RCBC, Multisys to Bring an All-In-One Virtual Banking App

Rizal Commercial Banking Corporation (RCBC) has partnered with software and IT solutions provider, Multisys Technologies Corporation, to power the country’s first financial inclusion accelerator virtual bank, DiskarTech. PLDT invested P2.15 billion in Multisys for a 45.73% interest last year.

Through DiskarTech: Kasosyo sa Asenso, RCBC will soon bring banking services and products closer to unbanked Filipinos and grassroots communities. This is in line with the commercial bank’s efforts to further promote financial inclusion in the country.

With Multisys, DiskarTech will become an all-in-one app where users can easily make payments to more than 20 government services and over 2,000 billers, transfer funds via InstaPay, and avail of social services. It will also enable banking consumers to take out loans, buy airtime load and gaming ePINS, as well as apply for insurance and cash in and cash out via respective agent partners.

“We are confident that with our collaboration with Multisys, we would be able to bring inclusive digital banking services to more Filipinos and uplift their lives,” said Lito Villanueva, RCBC Executive Vice President and Chief Innovation and Inclusion Officer.

“This is a strategic engagement as it covers the most extensive features and services that RCBC developed and championed, truly the first and the best in the industry,” said David Almirol, Jr. Multisys President and CEO.

RCBC has been building a robust digital ecosystem with over 30 partnerships and collaboration across government agencies and private organizations to push DiskarTech in local communities.

RCBC EVP and Chief Innovation and Inclusion Officer Lito Villanueva (right) and Multisys President and CEO David Almirol, Jr., seal a partnership that will make the DiskarTech: Kasosyo sa Asenso into an all-in-one app to bring banking products and services closer to unbanked Filipinos. Looking on are PLDT Chairman and CEO Manny Pangilinan, RCBC Chairperson Helen Yuchengco-Dee and RCBC President and CEO Eugene Acevedo.

DTI, RCBC TO BRING DIGITAL LIVELIHOOD AND BANKING TO SARI-SARI STORES

MAKATI – The Department of Trade and Industry (DTI) and universal bank RCBC will bring digital livelihood and virtual banking services to more than 1.3 million sari-sari stores nationwide through a Memorandum of Understanding (MOU) signed on 18 October 2019.

Under the MOU, DTI will promote RCBC’s virtual bank-tech app DiskarTech: Kasosyo sa Asenso and provide training programs for entrepreneurs. Said trainings will roll out before the end of this year in more than 1,000 DTI Negosyo Centers around the country.

DiskarTech offers digital financial services such as micro-insurance, microfinancing, bills payment, and airtime and gaming e-load. The app also enables customers to open RCBC basic deposit accounts, withdraw, deposit, and transfer money without going to a bank branch.

DTI and RCBC target enterprising Filipinos as users of the app, including sari-sari store and market vendors in over 42,000 barangays in the country.

"DiskarTech is a pioneering initiative that will level up our sari-sari stores and microenterprises with a complete suite of digital financial services that is well-aligned with the 10-point Socioeconomic Agenda of the Duterte Administration," DTI Secretary Ramon Lopez said.

"Aside from providing additional income, DiskarTech helps achieve financial inclusion by getting more Filipinos to open bank accounts and be part of the formal financial system," Sec. Lopez said.

He also noted that financial inclusion is key to achieving President Rodrigo Duterte’s vision of inclusive growth and a comfortable life for all.

"This will also address informal lenders offering exorbitant interest rates as DiskarTech provides opportunity for new-to-credit Filipinos to access efficient and affordable credit facility through self-help approach," RCBC Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva said.

Earlier, the Liga ng mga Barangay National Executive Board approved a resolution adopting DiskarTech as a national financial inclusion accelerator in all 42,000 barangays nationwide.

Signing the agreement were DTI Director Emma Asusano, DTI Secretary Ramon Lopez, RCBC Chairperson Helen Y. Dee, RCBC President and CEO Eugene S. Acevedo, and RCBC Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva.

RCBC, Liga ng mga Barangay work Towards Financial Inclusion

Rizal Commercial Banking Corporation (RCBC) has taken the first steps to bringing its digital financial inclusion initiative to grassroots communities as it gets the support and commitment of Liga ng mga Barangay sa Pilipinas (LNB).

The LNB led by National President Eden Pineda, presented its national executive board resolution stating that the organization is adopting DiskarTech: Kasosyo sa Asenso as a growth enabler and capacity-building measure for microenterprises in every barangay and its constituents. DiskarTech is a financial inclusion accelerator platform by RCBC that aims to stimulate economic activity to help uplift the unbanked and underserved Filipinos.   

The strategic collaboration will focus on accelerating financial literacy, promoting inclusive digital economy, and empowering local communities. This supports the government digitalization efforts aligned with President Duterte’s 10-point economic agenda on investing on human capital development, and promoting technology and innovation for self-sustaining and inclusive development towards poverty alleviation.

LNB is the official organization of over 42,000 barangays throughout the country. It is committed to providing avenues and assistance to promote welfare and ensure success of the national government’s National Strategy for Financial Inclusion and National Retail Payments System.

“This financial inclusion accelerator will be pervasive throughout the country as it would address the huge gaps in financial services while reducing the number of unbanked and underserved communities,” said RCBC Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva.

By adopting DiskarTech, LNB will be taking an active role in leading workshops and programs on financial education and literacy with the assistance of the DiskarTech National Coordinating Team. They will also be engaging its member municipalities to appoint their own DiskarTech Community Leader (DCL) who will facilitate participation of residents and entrepreneurs in the program.

“DiskarTech will pave the way for the real transformation of our communities nationwide as it would provide opportunities to our constituents, giving them the chance to be part of the formal financial system through technology,” said Liga ng mga Barangay National President Eden Pineda.

In an effort to encourage economic activity, partner sari-sari stores or microenterprises will also be identified as Barangay Digital Community Centers (BDCCs) to serve as the go-to hub of every resident for their financial needs - whether it’s paying bills, depositing savings to their accounts, buying  micro insurance or sending money to their loved ones.

With this, RCBC hopes to turbocharge the growth of digital financial transactions in the country from the current one percent to a minimum of twenty percent by next year. Through DiskarTech, this initiaitve hopes to bring to realization the vision of Bangko Sentral ng Pilipinas of creating a cash-lite and digital economy for greater efficiency, security, interoperability, and affordability.

Joining LNB and 20 other existing partners, a number of private organizations have also signed up recently to join the DiskarTech financial inclusion ecosystem to benefit their respective constituents. These partners include Ka-Entrep Micro and Small Entrepreneurs Organization of the Philippines, Bangko Pangasinan, and Rizal Microbank, among others.

Rural bank Bangko Pangasinan and thrift bank Rizal Microbank also share how DiskarTech would empower the agriculture sector with access to basic financial needs and microfinance loans.

“DiskarTech is an open platform and the way it works is that banks like us can communicate with other banks. Similar to an open banking system, there will be no barriers and it will become interoperable to make it easier to reach and assist the underserved market,” said Gregory De Guzman, Bangko Pangasinan president and COO.

Joseph Lumain, Strategic Partnerships and Special Initiatives head at Rizal Microbank, agrees that DiskarTech will be an effective way to reach numerous individuals at the same time. “Basically, what DiskarTech is offering are the basic services of a bank through digital means. And in an era where almost everyone is tech-savvy, DiskarTech can be the perfect solution to present financial services in an understandable way, and eventually helping answer the issue of financial inclusion.”

Deposit and Drive with RCBC

Believe you can turn your savings into your dream car with RCBC and RCBC Savings Bank’s (RSB) new Deposit and Drive promo.

Six units each of brand new Isuzu mu-X SUVs and Honda Civic Sedans are up for grabs. The more you save with RCBC and RSB, the more chances you get of winning in the raffle draw. Turn your saving woes into the ultimate grand prize!

Simply earn a raffle entry by depositing “fresh funds” into your new or existing account, and maintaining the minimum average daily balance of at least Php 50,000 for your personal account and Php 500,000 for your corporate account. The final number of raffle entries per account will depend on the cut-off period.

Fresh Deposit Funds are limited to: (a) funds deposited to open an account during the Promo Period; or (b) additional deposits made to existing accounts during the Promo Period.

Also, by just dropping by your branch of account and updating your account information, an additional raffle entry is given to you.

With RCBC and RSB, each deposit gives you a chance to earn a spot for you to drive away with your dream wheels!

Deposit and Drive is open to all new and existing account holders, from individual, joint and corporate accounts. Mark your calendars for the first draw on February 14, 2019 and April 15, 2019 for the final raffle draw date.

Start believing you can drive home with a brand new car. Saving has never been this exciting with RCBC and RCBC Savings Bank’s Deposit and Drive promo.

AXA Philippines Receives Visionary Award for MyAXA Café

AXA Philippines, one of the leading insurance companies in the country, recently received the Visionary Award from Vision Critical, an international firm that provides continuous customer intelligence to power companies with the collective wisdom of the people that matter to them. The winning entry was MyAXA Café, a branded online insight community that provides secure, ongoing, and real-time feedback from customers.

Created in partnership with global service providers ABN Impact and Vision Critical, MyAXA Café is designed to generate faster, research-driven insight to help improve customer service and enhance customer satisfaction and loyalty. It also helps AXA create new and better products that are responsive to the needs of customers, while supporting an ongoing, two-way dialogue with them.

MyAXA Café has now become a vital tool to guide customer-centric decision-making processes within AXA Philippines, across multiple departments and stakeholders that may use it as a first step to making business decisions.

“By understanding our customers better through MyAXA Café, we are then able to design even better solutions to improve constantly the delivery of a frictionless customer experience,” says Rahul Hora, AXA Philippines president and CEO.

MyAXA Café has already made a difference in customer engagement. Through messages from customers left on MyAXA Café, AXA Philippines launched an engaging and simplified online financial needs analysis tool called Coach Finn that can support customers with their financial game plan. Customers helped AXA Philippines identify the approach, tone, and persona that will solicit their engagement. By iterating feedback from MyAXA Cafe, Coach Finn was a guaranteed success.

MyAXA Café received earlier the Silver Award from the prestigious Efma-Accenture Innovation in Insurance Awards 2018. For more information, visit www.axa.com.ph.