SINGAPORE, SINGAPORE – Rizal Commercial Banking Corporation (RCBC) and PalawanPay have officially announced a digital partnership during the Singapore FinTech Festival on November 12, 2025. The collaboration will soon enable over 20 million PalawanPay customers to open an RCBC DiskarTech basic deposit account directly through the PalawanPay app, marking a major step in expanding financial inclusion through “Banking-as-a-Service.”
PalawanPay, an e-wallet service with over 5,000 Palawan Express Pera Padala branches nationwide, will serve as the first touchpoint for many underserved Filipinos to open a “PalaSave” basic deposit account through RCBC DiskarTech, the bank’s pioneering, multilingual financial app available in Taglish and Cebuano.
“Many Filipinos want to save, but traditional banking may feel intimidating,” said Third Librea, President of PalawanPay. “’Pala-Save’ aims to close the gap by providing easy and secure digital access to deposit products that fit different lifestyles and goals. By partnering with RCBC’s DiskarTech, we give users a convenient way to earn up to 4% interest, without minimum initial deposit or complicated requirements. This is a significant step toward financial inclusion.”
With the RCBC DiskarTech basic deposit account, users can enjoy competitive interest rates and grow their savings while staying connected to PalawanPay’s suite of financial services. Since its launch at the height of the pandemic, DiskarTech has been one of the country’s leading alternative banking platforms, offering among the most rewarding savings rates in the market.
Karlo Castro, President and CEO of the Palawan Group of Companies, emphasized the shared mission behind the partnership. “For the last 40 years, Palawan Group has always stayed true to its mission to bring financial services that are matatag, maaasahan, mapagkakatiwalaan (strong, reliable, trustworthy) to Filipinos. This partnership with RCBC reflects our shared goal of democratizing access to high-yield savings. It reinforces our commitment to make financial security within reach of every Filipino.”
Lito Villanueva, Executive Vice President and Chief Innovations and Inclusion Officer of RCBC, said the partnership signals a new frontier for the Philippine digital finance landscape. “PalawanPay and RCBC are leading the way towards a new and unparalleled era of Philippine global banking. A microfinance institution that has connected Filipinos nationwide and globally through remittances has joined forces with RCBC to materialize a common vision to elevate the financial acumen of Filipinos and deepen their engagements with the banking system,” Villanueva said.
He also noted that the partnership aligns with the government’s push for innovation. “The Marcos administration has challenged us to accelerate efforts toward making the Philippines a fintech innovation hub,” Villanueva added. “This partnership is one of our many steps in responding to that call, and ensuring that Filipinos nationwide and globally are financially ready and empowered.”
RCBC DiskarTech has received numerous national and international awards, including back-to-back “Best Disbursement Partner” honors from the Social Security System. It is also part of RCBC’s suite of digital solutions that earned the bank its six-time “Best Bank for Digital” recognition from Euromoney, the first Asian bank to achieve this distinction.
