Taguig City—Rizal Commercial Banking Corporation (RCBC), recognized as the fastest-growing bank and the leading digital challenger bank in the Philippines, has been honored by The Digital Banker in the Global SME Banking Innovation Awards 2024.
The prestigious accolades were bestowed upon RCBC for its pioneering digital solutions tailored to small and medium enterprises (SMEs), with RCBC Negosyantech receiving recognition as the Best SME Mobile Banking Service Initiative, and RCBC ATM Go acclaimed as the Best SME Financial Inclusion Initiative.
The Global SME Banking Innovation Awards showcase the world’s premier SME banking institutions, evaluating winners like RCBC based on the quality and impact of their innovative programs. These initiatives set global benchmarks for banking performance, service, and innovation, while also demonstrating transformative power in empowering SMEs.
RCBC’s Negosyantech program, complementing its award-winning financial inclusion super app RCBC Diskartech, was highlighted for its empowering features. This initiative offers financial incentives to entrepreneurs for championing digital solutions in public markets, terminals, and communities, driving economic empowerment with each successful digital transaction facilitated by the bank.
Meanwhile, RCBC ATM Go captured the attention of the judging panel with its nationwide coverage, providing entrepreneurial opportunities to grassroots entrepreneurs and organizations across all 82 provinces. This initiative not only enhances financial inclusion but also amplifies bank visibility and accessibility through mobile-point-of-service ATM terminals.
RCBC Executive Vice President and Chief Innovations and Inclusion Officer Lito Villanueva thanked The Digital Banker for spotlighting RCBC’s impactful digital solutions focusing on SMEs in rural and remote areas. He expressed hope that RCBC’s success would inspire more banks in the Philippines and Asia to prioritize financial inclusion by empowering and supporting businesses and entrepreneurs in underserved areas.
“These valuable recognitions are not just a testament to RCBC’s success but also a win for the entire Philippines,” Villanueva said. “They elevate our status as innovative thinkers dedicated to finding solutions that uplift all Filipinos. We hope our recent achievements inspire more Philippine and Asian banks to address the needs of underserved and unbanked communities.”
RCBC’s rapid ascent to becoming the fifth-largest privately owned bank in the Philippines by assets, alongside its global and local recognitions, including a four-peat award as the Philippines’ Best Bank for Digital by Asiamoney, Best Digital Bank by The Asset Triple A Digital Awards, the Eye on Innovation Award by Gartner, and the YouTube Challenger Award for its viral digital ad campaigns, further solidify its position as a pioneering force in the banking industry committed to innovation and customer service excellence.