Undisputed and award-winning Rizal Commercial Banking Corporation fortified its position as the Philippines’ top challenger bank for being hailed 2023’s Best Digital Bank by the World Economic Magazine for the second consecutive year. RCBC also clinched the Best Bank for ESG Philippines and Best Bank for Financial Inclusion awards. These accolades recognize RCBC’s digital services – RCBC Digital, RCBC DiskarTech, and RCBC ATM Go – as topnotch innovative breakthroughs in digital banking.
RCBC Digital was lauded for furthering a cash-lite and digitally-inclusive financial ecosystem that is available to all Filipinos. RCBC Digital also features person-to-merchant QR payments, in-app unit investment trust fund (UITF) placement, mobile check deposit, and the Philippines’ first digital concierge, among others.
“We aim for a holistic and inclusive digital finance environment. Besides ease and accessibility, we also ensure that our digital innovations are aligned with the country’s mission – to not only serve the underserved, but be the bank for all Filipinos,” said Lito Villanueva, RCBC Executive Vice President and Chief Innovation and Inclusion Officer.
Clinching yet another award for financial inclusion, RCBC DiskarTech continues to offer relevant, inclusive, and forward-looking digital solutions designed for all markets. The application is the Philippines’ first multi-lingual financial inclusion mobile app in Taglish and Cebuano languages. RCBC DiskarTech also offers a wide array of financial services such as the opening of a basic deposit account that lets individuals’ savings earn 6.5 percent interest per annum, fund transfers for only 8 pesos to any bank and e-wallets and free to RCBC and DiskarTech users, mobile load, telemedicine, insurance, and micro-loans. It now has close to 100,000 cash in agent network. Recently, RCBC DiskarTech forged a partnership with PeraHub to enable direct remittances of OFWs to their families in the country.
RCBC ATM Go is the Philippines’s first neighborhood and last mile mobile handheld ATM network. It was one of the financial digital cornerstones of RCBC’s collective response to COVID-19 that aided DSWD and DOLE in the distribution of financial assistance to Filipinos in geographically isolated, disadvantaged and conflict areas in the Philippines. It has the most extensive reach covering all 82 provinces nationwide with over 1,300 RCBC ATM Go terminals. Lastly, RCBC MoneyBela Barangayan Banking fuses digital prowess and empathy as the first physical-digital (phygital) blended banking experience that facilitates financial transactions even to far-flung communities of the country.
World Economic Magazine Inc. is a publication based in the United States that specializes in providing information about financial markets, international trade, and the global economy. The American publication aims to spread financial literacy.
RCBC is one of the country’s fastest-growing banks, and the most awarded for its banking innovations. It is now the Philippines’ 5h largest privately-owned universal bank from 8th place in asset ranking in 2018. It accomplished and maintained this feat from 2020 to the present, even breaching the P1-Trillion asset mark by the end of June 2022 despite the COVID-19 pandemic and various investment activities by competition. RCBC’s continuing digital and business transformation further enhanced its value and reach. RCBC has now become the most awarded Philippines bank. Among its recognitions include a three-peat award as the Philippines’ Best Bank for Digital by Asiamoney, back-to-back wins for Best Financial Inclusion App by The Asian Banker’s Financial Technology Innovations Awards, and the YouTube challenger award for its viral and out-of-the-box digital ad campaigns generating combined views of over 17 million.
