Innovation, Inclusion and (Clients’) Insights have been part of the Yuchengo led Rizal Commercial Banking Corporation’s consideration in doing their banking business. Consequently, they reap the awards from various international award-giving bodies in the banking industry.
After RCBC recently bagging the best corporate bank by UK banking publication, Best Cash Management Bank at GBAF 2021 and a lot more accolades, the Rizal Commercial Banking Corporation (RCBC) got another feather in its cap as it is chosen to be the Philippines’ mid-sized domestic retail bank of the year for successfully pivoting the retail banking business towards the better normal amid the pandemic.
At the height of the strictest lockdown in March 2020, the retail banking business was quick to adapt solutions that ensure business continuity for the bank, and ultimately, for its customers.
The retail banking group optimized its sales and marketing support units to ensure support for customers in their branch transactions and digital banking needs. This was complemented with a series of virtual training sessions for Branch sales personnel that would enable them to assist clients more efficiently by offering digital banking solutions.
Aside from this, the RCBC Hexagon Club, the bank’s premier banking, enhanced its premium banking services and perks that cater to the individual financial goals of its members.
“Amid the strict and prolonged lockdown restrictions in the country, RCBC moved with agility to minimize business disruptions and ensure digital access so customers can continue to meet their banking needs even without going to the physical branch,” said RCBC Executive Vice President and Head of Retail Banking Group Richard C. Lim.
The bank introduced the Bank-from-Home platform which combines digital solutions and the personalized banking experience to help clients gradually make that shift.
Meanwhile, the bank continued to convert a few of its branches to digital branches, also known as Branch of Today (BOT). BOT is the middle ground between physical and digital banking which utilizes RPA and API for self-service and automated banking transactions. In BOT, transactions are done much faster, reducing client’s length of stay and ensures both the safety of clients and employees.
Later in the year, the bank implemented a fully digital end-to-end web-based customer onboarding platform called RCBC Touch that allows new customers to open deposit accounts without going to a physical branch.
The bank continued to step up its digital banking game by further enhancing its mobile banking app by enabling more banking services such as check image deposit, UITF portfolio management and time deposit account opening, to name a few.
To date, RCBC’s mobile banking app remains one the most comprehensive banking apps in the local industry, earning international recognition from various award giving bodies.
“The pandemic may be fraught with challenges. But it served as a stage for RCBC to flex its retail banking capabilities which enabled us to increase operating profits and unlock sources of value and improve operational efficiencies,” Lim added.
Across all categories, RCBC joined other 140 exceptional banks from 31 countries that were recognized by ABF.
Part of the Charlton Media Group, ABF is the leading publication for banking and finance executives in Asia, having a monthly circulation of more than 7,000 copies. Its readership is senior management of retail and wholesale banks in Asia.