The Philippines’ largest and most respected non-bank financial institution M Lhuillier signed a memorandum of agreement with Rizal Commercial Banking Corp. (RCBC) for its Strategic Financial Inclusion Partnership with the ATM Go terminals to more than 3000 branches nationwide.
The historic event was held at the Hexagon Lounge of the RCBC Plaza in Makati last March 29, 2023. Present during the signing are (from left) executives from M Lhuillier Financial Services Inc.: Cecilia Lumapas, Money Transfer Services Manager; Michael James Lhuillier, Chief Financial Officer; Michael Lhuillier, President & CEO; and executives from RCBC: Helen Y. Dee, Chairperson; Eugene S. Acevedo, President & Chief Executive Officer; Lito Villanueva, Executive Vice President & Chief Innovation & Inclusion Officer, and Aaron Giberson, Digital Channels Department Head.
Michael Lhuillier, President and CEO of M Lhuillier shares how important the partnership with RCBC and the ATM Go available in all their branches: “Well, of course, this is very important because it goes by hand in hand with what M Lhuillier stands for. Our services are scattered throughout the country with more than 3000 M Lhuillier branches, and what we do is really to provide financial inclusion to the mass base of Filipinos. So, today with RCBC and this technology of POS devices people will be able to come in for their ayuda or beneficiaries. This is something we are excited to roll out together, as we use their technology and our technology to provide financial services to the country.”
ATM Go is RCBC’s first community-based and bank-agnostic mobile handheld device to serve financial services devices to remote unbanked and underserved communities in the Philippines. The ATM Go can accept all BancNet ATM cards to let you withdraw cash, transfer funds, buy E-load, pay bills and more.
“The RCBC ATM Go will be launched in all the branches of M Lhuillier. We are talking of more than 3000 M Lhuillier branches nationwide and with the ATM Go present in our locations, the customers will really have the advantage of going to a bank because the ATM Go serves as an ATM to help people in remote areas. They need not go to the city anymore to withdraw or even deposit cash as one of the features that are going to be launched also. But for cash out, they can already go to any M Lhuillier branch to do cash out using their ATM cards. So, this is really beneficial to the people, especially in the remote areas” said Cecilia Lumapas, Money Transfer Services Manager when asked on the benefit of the ATM Go being stationed in all their branches for its loyal customers.
Lito Villanueva Executive Vice President & Chief Innovation & Inclusion Officer of RCBC shares how the massive number of M Lhuillier’s branches can be a key factor in helping the Filipinos have financial access even in remote areas: “Well, this collaboration with M Lhuillier is definitely very strategic and part of our objective of further expanding our reach in all provinces around the country. While we already covered the entire 82 provinces nationwide, we want to further fortify that and strengthen it with more outlets. With M Lhuillier’s massive network, it would definitely be of value, especially in reaching out while providing responsive and responsible financial access to our unbanked and reserved Filipinos. So, M Lhuillier will definitely be RCBC’s extension in reaching out to those communities, especially in the graphically isolated and disadvantaged areas.”
Mr. Villanueva also gave an update on the ATM Go: “Well, ATM Go now is the Philippines’ first kapitbahay ATM or the last mile mobile ATM network in the country. We will be introducing more features within the year and exciting times ahead for us. Our collaboration with M Lhuillier comes at a very opportune time and very timely because of all of the new features on the ATM Go that we will be introducing.
And of course, we are also thankful to the rest of our other partners nationwide and M Lhuillier’s massive network numbering more than 3000 branches in the whole country.
Again, this is part of our vision of spreading inclusive digital finance in the country in support of the Bangko Sentral ng Pilipinas which is within the framework of the national strategy for financial inclusion in the digital payments transformation roadmap.”
With the partnership between M Lhuillier and RCBC, the ATM Go will allow access and benefit customers especially those living in remote locations outside of Metro Manila that have limited access to physical or digital financial platforms.
For more information and updates on M Lhuillier, visit https://mlhuillier.com/
To know the services of RCBC’s ATM Go, visit https://www.rcbc.com/atm-go-the-countrys-first-kapitbahay-atm
