RCBC Announces Nationwide Expansion of ATM Go Network

RCBC Announces Nationwide Expansion of ATM Go Network

by March 19, 2024

Rizal Commercial Banking Corporation (RCBC) has announced a significant expansion of its RCBC ATM Go network, reportedly establishing it as the Philippine bank with the broadest mobile point-of-service merchant network.

According to the bank, this expansion extends across all 82 provinces, achieving a claimed 100% nationwide coverage and reinforcing its commitment to enhancing financial service accessibility.

RCBC reports that its network now provides coverage in 99% of the country’s cities and 80% of municipalities, marking a pivotal achievement in its effort to democratise access to banking services.

The bank aims for complete coverage in all municipalities within the next four months and targets enhanced banking access in rural areas.

The RCBC ATM Go, described as the country’s first bank-agnostic, last-mile, and community mobile ATM, has seen a 731% growth in new terminal deployments over its performance in 2022. According to the bank, it also recorded a 112% increase in transaction volume and a 104% rise in transaction value, indicating a growing adoption of digital banking practices.

This mobile point-of-service solution, equipped with dual-sim technology, is designed to deliver ATM services to even the most remote communities. Its expansion, particularly noted during the pandemic, signifies a shift towards digital banking among the population.

In addition to broadening its network, RCBC has launched initiatives to promote digital and financial literacy, particularly in underserved and unbanked areas. These initiatives, described by the bank, often in collaboration with government agencies, aim to bridge the financial inclusion gap, especially in geographically isolated and disadvantaged areas (GIDAs).

Lito VillanuevaRCBC ATM Go network

Lito Villanueva

Lito Villanueva, RCBC’s Executive Vice President and Chief Innovations and Inclusion Officer, expressed enthusiasm for the bank’s achievements and its commitment to enhancing digital solutions.

He highlighted the bank’s dedication to innovation, promising new features to redefine digital banking and elevate financial inclusion.

Featured image credit: Edited from Freepik