By BusinessMirror
QUEZON CITY, METRO MANILA – Rizal Commercial Banking Corporation (RCBC) has been recognized once again by the Social Security System (SSS) as the ‘Best Disbursement Partner’ for 2024 at the SSS Balikat ng Bayan Awards, held on September 19, 2024, at the SSS Building in Quezon City.
This marks the second consecutive year RCBC’s DiskarTech has earned this prestigious recognition.
The multilingual financial inclusion application was initially launched in 2020 as a response to the challenges that arose at the onset of the COVID-19 pandemic. Since then, the bank has leveraged the solution to SSS to support its members’ needs in disbursing benefits, loans, and other cash-related services. The bank partners with government agencies to spread its financial inclusion campaign and financial literacy modules and make digital banking accessible to its members.
RCBC DiskarTech continues to deliver impressive results in terms of reach and impact. With almost 139,000 SSS benefit disbursement transactions completed, the platform has successfully disbursed a staggering Php 8.3 billion in benefits and Php 1.6 billion in loans. These achievements highlight RCBC DiskarTech’s pivotal role in empowering Filipinos, especially in underserved and remote areas, by providing them with efficient and accessible financial services.
RCBC DiskarTech is the world’s first financial inclusion application in Taglish (Tagalog-English) and Cebuano. It resolves problems of financial exclusion and underservice problems in rural and remote areas as it eases bank onboarding processes by requiring Filipinos to submit one valid I.D. and a Philippine mobile number to open a bank account. On top of the convenience of the bank onboarding process, Filipinos enjoy zero maintenance balance, zero initial deposit, and zero hidden fees when opening a bank account. Once onboarded, RCBC DiskarTech offers an empowering annual savings rate of 4.88%, affordable bank transfers of only Php 8.00, cardless cash withdrawals, cash deposits, bills payments, mobile loading, microinsurance, telemedicine, remittances, and Pasado loan application.
RCBC Executive Vice President and Chief Innovations and Inclusion Officer Lito Villanueva was delighted to receive the award, which serves as a testament to the impact of RCBC DiskarTech on the government’s goals of making financial inclusion accessible and mainstreaming digital banking. Villanueva said he looks forward to nurturing the relationship with the public sector to improve, position, and scale digital solutions vis-a-vis the government’s growth plans.
“RCBC DiskarTech is a pillar of the Philippines’ financial inclusion campaign. Its highly accessible services continue transforming people’s lives in rural and remote areas, especially those micro and small entrepreneurs. This award is our beacon of inspiration to do better and offer the best to our kababayans,” Villanueva said.
“We commit to continuously innovating, elevating, and expanding our services to support the Philippine government in its agenda promoting sustainable and inclusive digital finance,” Villanueva added.
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