RCBC Diskartech Qorus Reinvention Awards - APAC 2024-2025 - Winner

RCBC Diskartech was conceptualized to address the alarming low rates of bank account ownership in the county and the inaccessibility of banking services. In 2019, the Bangko Sentral ng Pilipinas (the central bank of the country) released a report that showed that only 29% of adult Filipinos owned a basic deposit account.

RCBC DiskarTech was formally introduced to the market to address the dire situation of Filipinos by providing frictionless access to digital banking services that correspond to their major pain points.

In line with the availability of RCBC Diskartech and to elevate every Filipino’s banking experience, we launched the Lahat Pwede QR Ph campaign to encourage more Filipinos to adopt digital payments through the use of the QR Ph code. QR Ph is the Philippines' QR code standard based on the global EMV standard for secure payments. QR Ph allows customers of participating banks and non-bank electronic money issuers (EMIs) to easily and safely transfer funds to other bank and e-money accounts. The BSP launched QR Ph in 2019 and scaled it during the COVID-19 pandemic as part of the government's strategy for financial inclusion and digital payments.

To complement this strategy, we supported the Bangko Sentral Pilipinas’s PalengQR-PH and PalengQR-PH Plus programs to highlight the benefits of digital finance to entrepreneurs and promote the use of QR-Ph, a QR-enabled digital payments service, among market vendors, tricycle drivers, and mSMEs. RCBC Negosyantech is a complementary service of this endeavor as it provides small and medium entrepreneurs the opportunity to earn additional income through the use of RCBC Diskartech and the facilitation of its digital banking services to consumers.

RCBC Negosyantech empowers entrepreneurs and integrates the use of digital banking services as part of the Philippine social fabric and contemporary lifestyle as it is strategically launched in major areas such as public markets, terminals, and other commercial centers as well as target micro areas such as barangays or villages and communities, which are all areas wherein banking is desperately needed yet seldom available to underserved and unbanked Filipinos. Negosyantech through PAKISuyo services enables entrepreneurs to facilitate digital transactions on behalf of consumers in exchange for additional revenue and capital.

With RCBC DiskarTech being part of RCBC’s massive digitization efforts in recent years, RCBC has emerged as the fastest growing bank in the Philippines and maintained its position in the Top 5 largest private universal banks in terms of assets in 2023. The bank leaped from 8th position in 2018 to 5th position in 2023 because of its massive adoption, advocacy, and development of digital solutions all across its network. At the heart of this immense bank transformation are digital solutions of RCBC such as RCBC DiskarTech that fuse both the need to make financial digital solutions accessible and the obligation to be a socially-transformative bank involved in both social endeavors and government initiatives.

In 2023, DiskarTech’s transaction volume hit a whopping 115% increase, customer deposit size jumped by 138%, and bills payments surged to 159%. RCBC Diskartech continues to be widely used in remote, rural, and low-income areas due to its accessibility and life-enabling features.