By The Philippine Business & News
SSS loan application and processing can be cumbersome. As well as where to get the benefits when needed.
That concern is the thing of the past as all the members of the Social Security System (SSS) can now enjoy convenient disbursements of funds through Rizal Commercial Banking Corporation (RCBC).
Yuchengco-owned RCBC has leveled up its partnership with the government pension fund and now offers the RCBC Online Retail (ROR) as a platform where SSS members can get their benefits and loan proceeds in the comfort of their own homes.
Registered members only need to enroll their RCBC account numbers by logging into their SSS account at https://member.sss.gov.ph/members/ and choosing RCBC as the bank partner.
By signing up in the Disbursement Account Enrollment Module (DAEM), SSS members can enjoy hassle-free transactions that are fast and efficient, thanks to RCBC’s reliable digital platforms.
“ROR has made more contactless transactions possible to ensure the safety of our clients throughout the pandemic. As SSS moves forward with their own digitalization program, we wish to be partners in this effort,” said Lito Villanueva, RCBC executive vice president and chief innovation and inclusion officer.
RCBC has recently stepped up its digital banking game with a host of new features that are pandemic-proof and innovations that are here to stay. Among them is its digital concierge, the first of its kind in the Philippines. Through the digital concierge, branch transactions such as requests for bank certifications, replacement of damaged ATM cards, reset of personal identification numbers (PIN), and foreign or local telegraphic transfer can now be completed online.
The same ease in contactless banking made accessible by RCBC by depositors who register their account with SSS.
“Expanding our partnership with SSS proves our commitment to inclusive digital payment solutions that are in line with the Bangko Sentral ng Pilipinas’ roadmap towards a more digital Philippines,” said RCBC President and Chief Executive Officer Eugene Acevedo.
RCBC also offers access and management to unit investment trust funds (UITF) via ROR. Filipinos can now enjoy an end-to-end digital experience in UITF investments via its online platform. RCBC is the first local bank in the country to implement this in its main platform.
Earlier this month, RCBC’s mass market mobile app DiskarTech also launched its collaboration with the SSS enabling DiskarTech users to also receive SSS benefits and loan proceeds directly to their accounts.
The Bangko Sentral ng Pilpinas has been pushing for the massive digitalization targeting at least 50 percent of financial transactions in digital and 70 percent of the adult population to be part of the formal financial system.
RCBC is one of the leading universal banks accelerating digital transformation in the Philippines. It was judged in 2020 as the Philippines’ best digital bank by the Asiamoney and the Alpha Southeast Asia, among other global and regional recognitions. It is also the first local universal bank to have the most extensive reach with registered customers from across all 81 provinces nationwide through its mobile apps RCBC Mobile and DiskarTech. Its digital products include RCBC mobile and online banking, handheld ATM Go mobile point-of-sale terminals, and DiskarTech, among others. DiskarTech was recognized as the 2020 breakout finance app in the country by App Annie, a global data analytics firm covering all mobile applications worldwide.
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