Bank’s financial inclusion tech app downloaded nearly every second

By Tyrone Jasper C. Piad, BusinessMirror

The Yuchengco-owned financial inclusion application, or app, “DiskarTech” has already gained traction less than a month since its launch with 50 Filipinos downloading it every minute.

Rizal Commercial Banking Corp. (RCBC) said that the app was downloaded over half a million times as of July 30.

This made the RCBC digital product the top finance app in Google Play among Android users; it ranked second in the same category in iOS App Store.

“In a crowded field of e-wallets, online banking, and similar apps, Filipinos have warmly welcomed the entry of DiskarTech, which stands out as the most inclusive of all,” RCBC Executive Vice President Angelito M. Villanueva said. “I think what makes this first ‘Taglish’ inclusion super app a hit was due to its unique product proposition, relevance, and timing.”

The app offers a digital savings account that has no required initial deposit or maintaining balance. It also allows cardless automated teller machine (ATM) withdrawals, deposits and cash out from partner agents, fund transfers, bill payments and quick-response code transfers, among others.

“We want unbanked and underserved Filipinos to take advantage of the benefits of being part of the formal financial system,” RCBC President Eugene S. Acevedo said. “This has been RCBC’s thrust of promoting inclusive digital finance, which was further accelerated by the [lockdown measures against the] Covid-19 pandemic.”

He added that the bank even gamified the savings feature in the app to promote the “important habit” among its users.

Apart from the app’s banking services, it also provides telemedicine feature allowing access to offsite medical consultation and assistance, RCBC said, noting that this could help the public be linked to affordable digital healthcare amid the pandemic.