RCBC’s DiskarTech App Recorded 5-Digit Growth in Transactions Last Yearby Fintech News Philippines February 8, 2022
Rizal Commercial Banking Corporation (RCBC) has witnessed a five-digit growth in both transaction volume and value through its digital platforms as of 2021.
The bank’s financial inclusion app DiskarTech has reached over five million downloads in less than two years which is more than double from the previous year end.
As of December 2021, it had recorded a gross transaction value in excess of Php 18.3 billion, a growth of 139 percent compared to previous year.
The app’s partner deposits or cash-in also booked a 26,568 percent and 6,632 percent surge in transaction value and volume compared to 2020.
DiskarTech fund transfers via InstaPay rail have also been on an uptrend with its transaction volume and value increasing by 2,113 percent and 2,616 percent respectively, while outgoing Instapay transaction volume and value also jumped to 527 percent and 12,394 percent.
RCBC’s mobile point-of-sale terminal (mPOS) ATM Go also recorded an increase in year-to-date transaction volume of more than 2.8 million with a total throughput value of almost Php 8 billion.
Meanwhile, RCBC’s primary mobile banking app RCBC Digital, registered a 75 percent increase in total throughput value for its mobile and web versions, generating a value of more than Php 109 billion.
RCBC Digital also introduced digital investment management account (IMA) opening, digital concierge, and mobile check deposit which helped to push the bank’s year-on-year revenue by 116 percent.
“Innovation with empathy. This has been the collective mindset we all share in RCBC when it comes to developing and providing digital platforms and solutions for our customers.
It is by understanding the needs of the people we serve that RCBC finds its strength as a digitised legacy bank,”
said Eugene S. Acevedo, RCBC’s President and Chief Executive Officer.
“This record high growth reflects how RCBC’s digital innovations have been warmly embraced by Filipinos nationwide, and mirrors its significant contribution to the country’s digitalisation and financial inclusion efforts,”
said Lito Villanueva, Executive Vice President and Chief Innovation and Inclusion Officer at RCBC.