By Fintech News Philippines
Rizal Commercial Banking Corporation (RCBC) reported that its digital banking platform, RCBC DiskarTech, saw a 79% growth in customer deposits and a 114% rise in bills payments over the past year, as of August 2024.
Instapay transactions also grew by 45%, with transaction value up by 50%. Meanwhile, cardless withdrawals increased by 42%.
With a focus on financial inclusion, RCBC DiskarTech allows Filipinos to open accounts digitally with a valid ID and a Philippine phone number.
RCBC DiskarTech offers a range of financial services, including high-yield savings accounts, cardless withdrawals, affordable bank transfers, microinsurance, telemedicine, bill payments, and accessible loans.
Lito Villanueva, Executive Vice President and Chief Innovation and Inclusion Officer, said that the growth reflects the rising reliance and adoption of digital banking services among Filipinos, particularly in underserved and unbanked rural areas.
“RCBC DiskarTech’s sustainable growth represents the ever-growing acceptance of digital solutions and payments into the social fabric of Philippine society, which aligns with the government’s vision of a truly digital country.
More than 60 percent of the DiskarTech base are micro and small entrepreneurs,” he added.
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