Undisputed and leading digital challenger bank Rizal Commercial Banking Corporation (RCBC) through its financial inclusion super app RCBC DiskarTech won the Best CSR Initiative by Retail Bankers International Asia Trailblazer Awards 2023 for its financial literacy and education initiatives in the country. The award-winning Yuchengco-led bank also bagged the Philippines’ Best Retail Bank recognition.
“This award recognizes our focus on providing solutions that meet every Filipino’s evolving needs. By innovating with empathy, enhancing our digital offerings, and fostering a culture of customer-centricity, RCBC now cements itself as the fastest-growing and undisputed challenger bank in the country,” said Eugene S. Acevedo, RCBC President and CEO.
RCBC, which was also named the country’s best bank for digital for three consecutive years by the Asiamoney introduced game-changing digital innovations that recorded exponential growth in gross transaction value and volume such as the RCBC DiskarTech, RCBC ATM Go, and the newest phygital (physical-digital) blended banking experience RCBC MoneyBela Barangayan Banking.
“Financial inclusion, literacy, and education are at the heart of what we do in RCBC. They are integrated with every step of our innovation journey. RCBC DiskarTech is designed to accelerate the inclusion of the unbanked and underserved in the formal banking system. As we continue to understand the needs of every Filipino, we also continue to roll out innovations that fortify RCBC’s position as the bank for all Filipinos,” said Lito Villanueva, RCBC Executive Vice President and Chief Innovation and Inclusion Officer.
A key feature of RCBC DiskarTech is its acceptance of a wide range of identification cards in opening a basic deposit account that offers 6.5 percent savings interest rate, one of the highest in the Philippine digital banking market. The inclusion app accepts 18 IDs including LGU-certified identification such as the Quezon City ID.
Retail Bankers International Asia Trailblazer Awards celebrates the best-in-class retail banking and consumer finance institutions and individuals for their innovative service offerings and commitment to customer excellence. The programme also delivers an exceptional benchmark bringing together the most senior retail banking executives, vendors, and other key industry stakeholders from across Asia.
RCBC is one of the country’s fastest-growing banks, and the most awarded for its banking innovations. It is now the Philippines’ 5th largest privately-owned universal bank from 8th place in asset ranking in 2018. It accomplished and maintained this feat from 2020 to the present, even breaching the P1-Trillion asset mark by the end of 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 as the Philippines’ Best Bank for Digital by Asiamoney, back-to-back wins for Best Financial Inclusion App by The Asian Banker’s Financial Technology Innovations Awards, and the YouTube challenger award for its viral and out-of-the-box digital ad campaigns generating combined views of over 17 million.