Strengthening the government’s efforts in digitizing its services, Social Security System (SSS) loans and benefits payouts transacted using Rizal Commercial Banking Corporation’s (RCBC) financial inclusion app DiskarTech rose to 110 percent by end of second quarter this year.
This growth shows that more and more SSS members are beginning to recognize the benefits of doing their SSS-related transactions using the DiskarTech app.
“The sustained growth of SSS disbursements for the second quarter of this year only reflects how Filipinos respond positively to initiatives that make financial and banking services more inclusive for everyone. We in RCBC remain committed in employing technological innovations to make sure that we continue to give the best customer experience to our fellow Filipinos, and in supporting the BSP’s goals of achieving a digital Philippines,” said Eugene S. Acevedo, RCBC’s President and Chief Executive Officer.
Earlier in February, RCBC’s DiskarTech and SSS launched a partnership that encourages millions of SSS members nationwide to take advantage of the digital disbursement features offered by DiskarTech for those members who are currently enrolled in the Disbursement Account Enrollment Module (DAEM) of the SSS website.
“The SSS partnership with RCBC is a welcome initiative aimed at encouraging members to explore and utilize digital enhancements that will provide them with the highest level of service,” said SSS President and Chief Executive Officer Aurora C. Ignacio.
“Through this partnership with the SSS, DiskarTech has served as a bridge that connects millions of SSS members all over the country to fast, efficient and secured pay out of their loan proceeds and other benefits while enjoying additional perks such as a 3.25 percent interest on their DiskarTech savings and free fund transfers to other banks, bills payment transactions, e-load and other cash-in services,” RCBC Executive Vice President and Chief Innovation & Inclusion Officer Lito Villanueva added.
As of June 30 this year, RCBC through DiskarTech and the rest of its digital platforms has also helped the national government in disbursing more than Php16.13 billion peso worth of financial aid under its social amelioration program (SAP), benefitting at least 22.83 million Filipinos in 73 provinces as the country continues to surmount the economic hurdles brought by the pandemic.
Because of its groundbreaking innovations in the financial sector, RCBC’s DiskarTech was recognized as the 2020 breakout finance app in the country by App Annie, a global data analytics firm covering all mobile applications worldwide.
RCBC is one of the leading universal banks accelerating digital transformation in the Philippines. It was judged as the Philippines’ best retail bank in the 2021 Global Banking and Finance Review Awards. It is also the best digital bank for Business Tabloid in 2021, by the Asiamoney in 2020, and by the Alpha Southeast Asia for 2020 and 2021, among other global and regional recognitions. It is also the first local universal bank to have the most extensive reach with registered customers from across all 81 provinces nationwide through its two other digital products RCBC Mobile and DiskarTech.