Multi-awarded and leading digital challenger bank Rizal Commercial Banking Corporation (RCBC) recorded a 290% growth in downloads of its newly launched one-stop-shop RCBC Pulz app.
RCBC announced its offering of zero bank transfer fees for InstaPay transactions below Php 1,000 on its digital banking app RCBC Pulz until January 31, 2024, and an increase of 88% in Instapay transactions was registered in just one week of the promo. Its social media campaign generated over 8 million views and 17 million impressions in less than a week.
In addition, the bank also launched a promo giveaway of three (3) iPhone 15 devices to those who opened RCBC Pulz accounts from December 10, 2023, to January 10, 2024. RCBC also simplified its digital account opening in minutes which only required one government I.D. and a smartphone.
RCBC President and CEO Eugene S. Acevedo said that the Christmas promo was the bank’s way of expressing its gratitude to Filipinos who have embraced digital banking and included RCBC’s solutions into their everyday lives. He added that the promo was also in-line with the BSP’s vision of integrating digital banking into the mainstream Filipino lifestyle.
“RCBC kicked off this festive season by presenting our customers with this significant treat – free bank transfers. Recognizing that bank transfer fees can be an additional expense in our fast-paced digital lifestyles, it is fitting for a pioneering digital bank to make these transactions free, encouraging all Filipinos to digitize the tradition of gift giving this holiday season,” said Acevedo.
To increase their chances of winning, RCBC Pulz users should actively use their accounts during the promotion period, engaging in cashless withdrawals, bank transfers, deposits, foreign currency exchange, bill payments, e-loading, and more. Filipinos abroad during the holidays can also participate by opening an RCBC Pulz Account with their international number. Three lucky winners will be selected to receive an iPhone 15 through an online raffle draw on January 24, 2024.
“Our holiday offer aligns with the Philippines’ vision of making digital retail payments. Since the BSP launched the Digital Payments Transformation Roadmap, RCBC has been a reliable and steadfast partner in scaling digital channels and payment systems to make retail payments in digital platforms lucrative, safe, and hassle-free to all Filipinos. This promo is another significant step to ramp-up our collective efforts to instill the digital way of banking into the social fabric of Filipino life,” said RCBC executive vice president and chief innovation and inclusion officer Lito Villanueva.
RCBC has emerged as the fastest-growing bank in the country, leaping from eighth position in 2018 to fifth in 2022 among the Philippines’ largest privately-owned banks in terms of assets. The bank has received numerous global, regional and national accolades, including being named the Philippines’ Best Bank for Digital by Asiamoney for four consecutive years, receiving the Eye on Innovation Award by Gartner, and being honored as the Grand Champion for Digital Payments and Financial Inclusion by the Bankers Institute of the Philippines. RCBC also claimed the top spot in the Philippine Best Customer Service 2023 survey conducted by the Philippine Daily Inquirer and global research firm Statista. It also launched RCBC Boz to enable and empower micro, small and medium enterprises digitally.