by Fintech News Philippines
iskarTech, Rizal Commercial Banking Corporation’s (RCBC) virtual bank, has emerged as the Philippines’ number one finance app released in 2020 across distribution platforms in terms of downloads according to App Annie, global provider of mobile data and analytics.
DiskarTech had reached one million downloads just one month after its market launch. As of December 31, 2020, DiskarTech has been downloaded more than 3.5 million times.
Aside from leading new local finance apps in downloads in the App Store and the Play Store, DiskarTech also reached the top ten spot among all new apps for both platforms. It placed ninth for iOS devices and tenth for that of Android.
Its users are mostly female and between the age of 21 to 30 years at 65% and 55%, respectively. A majority of DiskarTech users also reside outside the National Capital Region at 70%.
“We welcome this recognition as a challenge to bring more Filipinos into the shelter and opportunity of the formal financial network,” said Lito Villanueva, RCBC’s Executive Vice President and Chief Innovation and Inclusion Officer. “The extended crisis posed by the continuing pandemic requires the scaling of digital technology to spread its benefits to the mass market.”
RCBC has been in support of the Digital Payments Transformation Roadmap of Bangko Sentral ng Pilipinas.
By 2023, the central bank targets half of retail payments to be transacted online with 70% of Filipino adults onboarded in the formal financial system.
These twin goals are addressed by RCBC digitalisation efforts through products that include mobile and online banking, handheld ATM Go mobile POS terminals, and DiskarTech among others.
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