RCBC, the Philippines’ leading and award-winning digital challenger bank, was hailed as the only Philippine financial institution to win the prestigious Gartner Eye for Innovation Awards for financial services in the Asia Pacific (APAC) region for its pioneering multi-lingual financial inclusion mobile app, RCBC DiskarTech.
The other two regional winners were Taiwan’s Far Eastern International Bank (FEIB) for its Bankee online branches initiative, and China’s Ant Group for its online open wealth management solution. Other finalists include DBS for its Digital Exchange, E.SUN Bank of Taiwan for its end-to-end digital mortgage initiative, Ping An Life Insurance for its projects: automated insurance document assessment platform, AI Follow-up and Triton, and Standard Chartered Bank’s assistive technology solution.
“We are grateful to Gartner for this global recognition. We are honored to represent the Philippines as the only digital challenger bank and financial institution to be among the three winners from among over 300 finalists in the APAC region. We are beyond proud of RCBC DiskarTech for meeting the judges’ criteria of being clear, objective, truly innovative, with obvious benefits, and well-defined critical success factors,” said Lito Villanueva, RCBC Executive Vice President and Chief Innovation and Inclusion Officer.
The annual Gartner Eye awards recognize financial services companies for their innovative use of technology to drive best-in-class initiatives. Each entry is open to any financial services end-user institutions such as banks, insurers and investment management companies that have implemented an innovative digital initiative, product or service during the past year.
The award-winning bank continues to be a cornerstone of the national campaign for financial inclusion and empowerment. To further RCBC’s positive contribution to small businesses and entrepreneurs, RCBC DiskarTech recently launched its 6.5 percent annual savings interest to further onboard more Filipinos into the formal banking system this holiday season.
RCBC is one of the country’s fastest-growing banks, and the most awarded for its banking innovations. It is now the Philippines’ 6th largest privately-owned universal bank from 8th place in asset ranking in 2018. It accomplished and maintained this feat from 2020 to present, even breaching the P1-Trillion asset mark by end 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 for the Philippines’ Best Bank for Digital by Asiamoney, and a back-to-back win for Best Financial Inclusion App by The Asian Banker’s Financial Technology Innovations Awards.
Recently, SMBC infused US$460 million for an additional 15% equity into RCBC.