The Rizal Commercial Banking Corporation (RCBC) continues to push for financial inclusion by strengthening its partnerships with various government institutions.
Members of Social Security System (SSS) can now enjoy convenient disbursements of funds through the bank’s online platforms.
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.
Ipon Galing Galing
Meanwhile, RCBC’s financial super app DiskarTech, launched its partnership with the Blas Ople Policy Center called the Madiskarteng Bagong Bayani: #IponGalingGaling para sa mga OFWs at kanilang mga pamilya program.
The virtual event featured industry leaders, in banking, finance, and various OFW groups in more than 30 countries who shared the challenges of migrant workers in the new normal. Bringing in their expertise in their respective fields, the panel addressed the financial and livelihood concerns of OFWs in light of the record recession and unemployment caused by the COVID-19 pandemic.
“As the “Ipon Galing” aims to provide incentive to DiskarTech users, I am very confident that the campaign will not only help accelerate the adoption of digital banking among Filipinos, this would also help users start their financial journey, and maybe help competitiveness and efficiency of budding micro-entrepreneurs, necessary for a real economic recovery for our country,” said Labor Secretary Silvestre Bello III.
With the pandemic adversely affecting the global economies, OFWs feel the impact of the lockdowns and business shutdowns overseas. This is where inclusive banking can be of great help to OFWs and their families.
“Many OFW families, especially here in Calatagan, put up online businesses in order to help their families,” said Vivian Inmenzo, President of Calatagan OFW Organization. She added that a lot of them turned to selling ornamental plants during the pandemic.
“We promise to help OFWs now more than ever. We are fully supporting RCBC’s Bagong Madiskarteng Bayani effort,” said Overseas Workers Welfare Administration (OWWA) Administrator Hans Leo Cacdac. He expressed how DiskarTech’s features can help OFW families adjust to the digital banking banking shift during the pandemic.
Using their Philippine-issued roaming mobile numbers and their permanent address in the country, OFWs can now open a DiskarTech account in less than three minutes.
“DiskarTech is more than just an app. It’s like having your digital bank at your fingertips, thanks to RCBC. What you save will depend on how hard you work to earn. OFWs can also help their fellow OFWs. We know a lot of them who send money to their families via remittance services because they don’t have their own bank accounts. DiskarTech can help them with this,” explained Ms. Toots Ople, founder of the Blas F. Ople Policy Center and Training Institute.
Even families of OFWs can benefit from the program. They can also enjoy extra income via the DiskarTech app through pakisuyo services. These are transactions they can make on behalf of others such as e-loading, bills payment, ang purchase of gaming pins, among others. In turn, this livelihood opportunity can encourage more OFW families to participate in the digital economy. Sending money to another DiskarTech account can be thorough the interoperable QR PH code or through the mobile number of the receiver or beneficiary.
“RCBC’s Diskartech’s Ipon Galing provides an opportunity to our overseas Filipinos not only to save but to complete financial transactions conveniently,” said Bangko Sentral ng Pilipinas (BSP) Deputy Governor for Financial Supervision Sector Chuchi Fonacier. “This initiative is consistent with the thrust of the Bangko Sentral to provide greater access to a broader set of financial products to the people,” she added.
The BSP’s Digital Payments Transformation Roadmap is geared towards an efficient, inclusive, and secure digital payments ecosystem in the country. This includes offering wider digital payments options and shifting to a cash-lite economy.
To encourage more Filipinos to develop the habit of savings, DiskarTech introduced a new incentive of a “Triple Ipon” prize for its users alongside the return of its “Ipon Rewards” incentives of two percent rebates on qualified transactions and the popular “Doble Ipon” bonus.
DiskarTech users who will pay their bills, top up their mobile phone and other online credits, and purchase telemedicine or microinsurance products stand to earn “Ipon Rewards” of up to P50.00 per valid transaction. These two percent rebates are credited straight to their savings accounts.
Weekly raffle draws will also be held for five lucky winners of the “Doble Ipon” bonus. DiskarTech shall match the average daily balance of these users to promote the habit of saving among Filipinos. This time around, a “Triple Ipon” reward awaits one lucky user whose prize at the end of the promo period will be twice his or her average daily balance.
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.