Rizal Commercial Banking Corp. (RCBC) said it expects to see sustained growth in its salary loans business as it continues to enhance the overall customer experience.
The bank said it reduced loan processing for traditional salary loans product from eight days to next-day funds release, allowing employees of its accredited companies to receive their loan proceeds within one day after applying for a loan. RCBC offers traditional salary loans primarily to accredited companies whose payroll services are provided by another bank.
“We remain committed to enhancing customer experience. We understand that speed is a critical factor for employees who are borrowing money, especially in times of need,” RCBC head of credit cards and personal loans Arniel Vincent Ong said.
“The bank’s focus on speed and efficiency is part of a bigger strategy to enhance its competitiveness in personal lending. With the updated feature of our Salary Loans facility, we have seen growth in loan availments, with many new companies starting to avail of our program,” Ong said.
