By Vernon Velasco
Rizal Commercial Banking Corp. (RCBC) recorded an exceptional four-digit growth rate in terms of consumer adoption of its digital platforms amid the pandemic, an executive of Rizal Commercial Banking Corporation (RCBC) said during the regular Straight Talk forum on Tuesday.
“In partnership with Bangko Sentral ng Pilipinas (BSP), RCBC is conducting financial education through digital literacy, which will be beneficial because the country is now pushing for a robust digital economy.”
Technology adoption
For instance, the ATM Go of RCBC is a handheld ATM device that acts like a point-of-sale machine, and the bank tapped 72 out of 81 provinces nationwide before the pandemic, enabling its payout partners to service the Pantawid Pamilyang Pilipino Program beneficiaries of the Department of Social Welfare and Development, disbursing over P3.6 billion, benefitting 1.6 million families during the lockdown.
“We were able to generate a lot of consumers when it comes to adoption in terms of volume and value. This is online banking, ATM withdrawal, even fund transfers via Instapay and Pesonet,” the executive explained.
Digital solutions
Likewise, RCBC was able to launch Diskartech, the country’s first and only “Tag-lish” inclusion super app.
Data from the Department of Trade and Industry (DTI) shows there are over 7 million informal home-based online sellers in the country today, where RCBC collaborated with the DTI on Negosyantech, which digitally enables and empowers 1.3 million sari-sari store owners across the country to use digital solutions like Diskartech.
“The whole thinking here is that you can buy ‘retail’ financial services. You can buy ‘retail’ insurance for as low as P20 for a P20,000 coverage for six months,” he said.
Source: https://tribune.net.ph/index.php/2020/09/16/rcbc-shifts-from-bricks-to-clicks/