RCBC captures 3-Peat as Best Bank for Digital

By THEPHILBIZNEWS STAFF

It seems there’s no stopping RCBC as it bagged for three consecutive years, the Philippines’ Best Bank for Digital Award by Asiamoney. On its 62^nd anniversary, RCBC continues to grow in value and reach with a series of regional and global recognitions for its human-centric inclusive innovations. 

RCBC was also awarded the Best Digital Bank Service of the Year by Pan Finance, as well as the country’s Best Digital Bank and Best Bank for Online Transactions by the International Business Magazine Awards. 

“We continue to be a leading innovator, and a strong partner for every Filipino, to whom we made a commitment to serve,” RCBC President and CEO Eugene Acevedo said.

The prestigious award is given to banks that consistently showcase exemplary performance all year round, not just within the company but within their roster of clients. The social impact RCBC has imparted on the specific markets they serve is undeniable, as shown by the astounding growth in numbers in just a span of a year.

RCBC Digital, DiskarTech, and ATM Go were the primary services bannered by the award-giving bodies as the most revolutionary. “After recording a 205 percent jump in revenues for its three digital platforms in 2021, it is hard to ignore RCBC’s aptitude not just for digital banking but also for spreading economic benefits. RCBC was the first to offer Taglish and Cebuano functionality on DiskarTech, for example. When it comes to digital solutions, RCBC remains the bank to beat,” Asiamoney said

“We owe these accolades to our customers and partners who have been part of this milestone success that will continue to inspire us to always give the best meaningful service to every Filipino, said RCBC Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva.

In 2021, RCBC recorded a doubling in gross transaction value on its RCBC Digital app.  Bills payment transaction value surged 27-fold in 2021 on the DiskarTech app. The app, aimed at the mass market, saw transaction volume rise 437 percent and transaction value growing 85-fold.

Moreover, the cardless withdrawals through the app rose by 15.75%, signifying users’ increased familiarity and confidence in DiskarTech’s innovations. 

While RCBC ATM Go, the Philippines’ first neighborhood ATM, has the most extensive reach across all 81 provinces in the country. Over 60 percent of its transaction volume are cash withdrawals of Pantawid conditional cash transfer beneficiaries. It is bank agnostic that services any bank-issued prepaid or ATM card through RCBC’s close to 1,000 merchant partners with over 1,400 RCBC ATM Go devices. Since its introduction in 2017, the compound annual growth rate stands at a solid 85%. Transaction count posted a remarkable 43% growth versus last year while transaction value grew to 32% from the previous year. It has serviced over five million families benefiting over 30 million individuals.