RCBC’s digital agency banking up 5-fold
The RCBC ATM Go transaction count grew by 564%, from 186,000 in 2018 to 1.2 million in 2019 while throughput increased 521%, from P542 million to P3.3 billion. Majority of the transactions came from household-beneficiaries getting their regular cash grants for the government’s Pantawid Pamilyang Pilipino Program (4Ps). “This exponential growth indicates increasing consumer awareness and adoption of digital channels that provide convenience, security, and transparency,” said Lito Villanueva, RCBC executive vice president and chief innovation and inclusion officer. RCBC ATM Go is the country’s first neighborhood ATM which enables any Bancnet ATM cardholder to withdraw cash through rural banks, sari-sari stores, drugstores, cooperatives, and microfinance institutions nationwide. Customers can also deposit cash, do balance inquiry, pay bills, transfer funds, and purchase electronic load for smartphones. Recently, RCBC rolled out its ATM Go service at the Rural Bank of Ilog in Kabankalan, Negros Occidental to enable the rural bank to offer convenient ATM services to its customers in far-flung communities, beyond its five branches in the province. RCBC also partnered with other members of the Negros Occidental Federation of Rural Bankers to introduce the ATM service to their clients. These include First Community Bank, First State Rural Bank, Rural Bank of Bacolod City, Rural Bank of Cadiz, Rural Bank of Escalante, Rural Bank of Manapla, Marayo Bank, Rural Bank of Sagay, Rural Bank of Silay City, and Rural Bank of Talisay.