RCBC Treasurer and Head of Treasury Group Horacio Cebrero. (Photo courtesy of RCBC)
MANILA – Digital push will continue to be among the major priorities of Rizal Commercial Banking Corporation (RCBC) this year as more people realize the advantages of transacting using this mode.
In a virtual briefing Tuesday, RCBC Treasurer and Head of Treasury Group Horacio Cebrero said they remain confident that “the things that we have put in place in year 2020 will strongly benefit us in the coming years, especially with the focus on digitization, which greatly improves not only the transactional efficiencies by our customers but also efficiencies in our core operations.”
“This digital journey also gives us an opportunity to increase our reach to those who are still unbanked. Again, responding to the call of our regulators with the main objective of financial inclusion,” he said.
Last year, the bank recorded a 288-percent year-on-year jump in digital banking enrollment, with 55 percent active users.
Cardless withdrawal, which uses the bank’s mobile app instead of an account holder’s automated teller machine (ATM) card, increased by 2,790 percent in terms of transaction volume and 4,619 percent in terms of value or amount.
Transactions using InstaPay, which is one of the two electronic clearing houses under the Bangko Sentral ng Pilipinas’ (BSP) National Retail Payment System (NRPS), rose by 1,269 percent last year compared to 2019 levels. The other electronic clearing house is PESONet.
Usage of the bank’s ATM Go, a handheld ATM facility found in select RCBC partner institutions, jumped by 127 percent in terms of average daily transaction amount during the community quarantine compared to pre-community quarantine.
Download of the bank’s Diskartech app, a mobile application that, among others, allows an individual to open a savings account and deposit and withdraw from partner institutions, reached 3.5 million last year.
Cebrero said this year is expected to be a challenging year due to the pandemic.
“As in all our strategic plans, we also have included this scenario into the coming years with a positive goal and crafted our strategies in line with such that the consequence produces positive results for the bank,” he added. (PNA)
