DiskarTech Deepens Financial Inclusion Strategy With Agri-Fishery Credit Programmeby Fintech News Philippines September 22, 2020
The Department of Agriculture – Agricultural Credit Policy Council (DA-ACPC) has partnered with the Rizal Commercial Banking Corporation’s (RCBC) DiskarTech to make agri-fishery credit programmes more convenient and accessible for small farmers and fisherfolk (SFF) in the new normal.
The collaboration will allow users to open digital deposit accounts without requiring an initial amount or maintaining balance, and features cardless ATM withdrawals, fund transfers and bills payment.
DA-ACPC’s Executive Director Jocelyn Alma R. Badiola, RCBC’s President and CEO Eugene S. Acevedo and EVP & Chief Innovations and Inclusion Officer Angelito M. Villanueva recently signed a memorandum of understanding (MOU) for the joint venture.
The MOU involves the application of the RCBC’s DiskarTech to DA-ACPC’s credit ecosystems and its partner lending conduits, including but not limited to the digital processing of loan applications, release of loan proceeds, and repayment of amortisation through its bills payment system.
“RCBC walks its talk in providing financial inclusion to all Filipinos. This is but the start of our engagement with our farmers and fisherfolk to bring enabling financial services right at the palm of their hands. This also supports the Bangko Sental ng Pilipinas’ (BSP) thrust in promoting the use of transactional accounts for key players such as the agriculture sector,”
said Lito Villanueva, Executive Vice President and Chief Innovations and Inclusion Officer at RCBC.
For her part, ACPC Executive Director Jocelyn Alma Badiola said that,
“DA-ACPC is very much excited to partner with RCBC’s DiskarTech which is the country’s first Taglish all-in-one banking services mobile application. Our farmers and fisherfolk will find it user-friendly and easy to understand as it uses conversational language.”
Through the MOU, a roadmap for the development, testing and implementation of digital processes and back-end requirements will be done to ensure the efficient and effective operationalisation of the alliance.
Featured image: edited from Unsplash