RCBC through its ATM Go is revolutionising financial access in the remote communities of Mindanao, where banking services have long been out of reach. Residents often travel great distances, spending significant amounts just to complete basic transactions.
Poor infrastructure, unreliable internet, and limited financial literacy programmes have further hindered economic participation in these areas. Despite these barriers, micro, small, and medium enterprises (MSMEs) are driving financial inclusion, creating opportunities for economic growth.
MSMEs play a crucial role in rural communities, serving as trusted sources for goods, services, and now, financial access.
One entrepreneur making a difference is Liz Ellaine Solmayor from Siocon, Zamboanga del Norte. With limited banking services in her town, Liz recognised the need for a more accessible solution. In 2019, she partnered with RCBC and introduced ATM Go, a mobile-powered banking service that quickly became essential in her community.
Over time, her venture expanded, offering full ATM functionality and becoming both a profitable business and a vital resource. Her efforts were recognised at the 2024 Gawad Kabalikat sa Negosyo Awards, where she shared her journey alongside fellow entrepreneurs.
Her story underscores how financial technology can transform lives, allowing businesses and communities to flourish.
The financial gap in Mindanao remains a pressing issue, with over 200 municipalities still without a bank.
Dr Ahmad Falmi Usman of Sibutu Island, Tawi-Tawi, sought to address this by introducing a banking service to his hometown. Without a local bank, residents previously spent thousands travelling to withdraw cash. However, with RCBC ATM Go, banking services are now available locally, benefiting teachers, government aid recipients, and other community members.
The impact of ATM Go extends beyond accessibility.
With real-time crediting and seamless transactions, entrepreneurs can maintain steady cash flow, allowing their businesses to grow. The service has seen a significant increase in transaction volume and value, reinforcing its role in financial inclusion.
For business owners like Moonyeen Ebanen Bugnos of Lake Sebu, South Cotabato, ATM Go has provided a new revenue stream. Her sari-sari store not only serves as a financial access point but also benefits from increased customer spending. During the COVID-19 pandemic, her store became a critical economic lifeline for her community.
The expansion of RCBC ATM Go highlights the growing shift towards financial inclusion in rural areas. With nearly 8,100 terminals nationwide, it continues to empower entrepreneurs, bridge economic gaps, and bring banking services closer to underserved communities.
As more MSMEs embrace this innovation, financial access in the countryside becomes more sustainable, paving the way for long-term economic resilience.
Featured image credit: Edited from Freepik
