By Alithea De Jesus
With barely over a month, DiskarTech sustains its momentum with its recent record-breaking downloads of more than one million in just 38 days since it was launched. Apart from this milestone, DiskarTech also ranked second overall among other mobile apps in the country by Google Play Store and Apple Store.
In the statement sent to THEPHILBIZNEWS, the super apps which is proudly powered by Rizal Commercial Banking Corporation (RCBC), is the country’s first and only Taglish super app that has achieved this unprecedented feat what leaders in e-wallets and mobile banking took several years to accomplish.
“This milestone during this pandemic proves that more Filipinos are looking at digital alternatives that best understand their needs and address their pain points,” RCBC president and CEO Eugene S. Acevedo.
DiskarTech has been attracting the attention of young adults outside of Metro Manila. They made the download and the application easy to use. With accountholders demographic and sociographic profiles are from aged 21 to 30 comprise 60 percent, followed by those between 31 and 40 years old at 25 percent. Meanwhile, only 37 percent reside in the National Capital Region and the rest are distributed in all 16 other regions, including the Bangsamoro Autonomous Region of Muslim Mindanao.
Aside from the surge in downloads, DiskarTech also observed a high engagement rate among its social media channels, some posts reaching over 100%, but averaging at 22.5%, exceeding industry benchmark of 4%. Its website,diskartech.ph, has also recorded an average of 100,000 visits per day.
The Enrollment to DiskarTech accelerated to as much as 1.3 downloads per second last week when it breached 100,000 daily downloads in late July. The Monthly Active User (MAU) rate was recorded at over 70%, way above the industry average of 10% to 20%. MAU is among the key performance indicators that measure unique customers doing at least one revenue-generating transaction in a 30-day period.
Account deposits through agent partners top the most frequent activity done in-app at 45%. A gamified savings feature called #BuhayGinhawa encourages this habit among its users. Airtime top-up or cellphone loading is a closed second among the highest recorded transactions.
Meanwhile, RCBC executive vice president and chief innovation and inclusion officer Lito Villanueva revealed this phenomenal success of DiskarTech, “Strategic and sustainable ecosystem building is key in driving speed and scale in terms of customer adoption, targeting millions of unbanked and underserved Filipinos.”
Aside from a competitive 3.25% annual interest on their savings, DiskarTech users are also treated to a suite of financial inclusion services available in the app, such as bills payment, fund transfers, telemedicine, airtime top-up, and purchase of gaming pins and microinsurance products, among others. Soon, loans and skills marketplace will be made available.
“The use of conversational Taglish was a winner to ensure a quick understanding of banking and financial concepts and processes. Our aim is to educate, engage, and empower each Filipino,” Acevedo stressed.
DiskarTech has also expanded its cash in and cash out the network to cater to its growing users with more than 30,000 aggregate touchpoints nationwide including Bayad Center and 7-Eleven. Those with existing bank accounts and mobile wallets can do fund transfer to their DiskarTech accounts through InstaPay.
“Both our volume and value projections by the end of 2021 have been accelerated and will be achieved before yearend given the current velocity. This phenomenal development could be attributed to DiskarTech’s unique and engaging proposition, relevance, and perfect timing,” Villanueva added.
DiskarTech’s virality was also made possible by netizens with thousands producing and curating their own video blogs or vlogs promoting and explaining the mobile app.
Ramping Up Inclusive Digital Finance
According to the Financial Inclusion Survey (FIS) released last month by the Bangko Sentral ng Pilipinas (BSP), the share of Filipinos, who own accounts in banks, e-money issuers, and microfinance institutions, stood at only 29 percent. An estimated 51.2 million adult Filipinos remain unbanked.
Lack of enough money continues to be the topmost reason among the issues expressed by those surveyed.
Account ownership among the poorest is at 27 percent which shows a gap in penetration of 16 percentage points against the top income group which is at 43 percent.
In support of BSP’s three-year target to bring this number to 70 percent, DiskarTech super app has emerged to be the Filipinos’ all-in-one app with financial, social, and livelihood features and benefits. Filipinos who were previously unqualified can now be part of the formal financial system starting with a savings account that requires no opening deposit, maintaining balance, nor dormancy fees.
In the same FIS report of the BSP digital connectivity was called “an important factor to unlock the full potential of digital financial services for financial inclusion.”
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