RCBC named Best ATM, Kiosk Implementation awardee

MANILA, Philippines — Rizal Commercial Banking Corp. (RCBC) continues to lead the digital innovation initiatives in the Philippines as it receives this year’s The Asian Banker Financial Technology Award for Best ATM and Kiosk Implementation.

The award for Best ATM and Kiosk Implementation is given to the industry player that is able to optimize the operational cost for the bank in handling cash and other automated transactions in a safe and secure environment, while achieving measurable customer origination, as well as selling and cross-selling goals.

With traditional banks embracing fintech, the award for Best ATM and Kiosk Implementation recognizes RCBC and its fintech partners Weepay and Novus for the ATM Go implementation.

ATM Go focuses on utilizing mobile Point-of-Sale (mPOS) devices in order to provide customers ATM services plus additional features made available right in their own communities.

From the original two hardware devices, RCBC is now deploying an all in one device. The new terminal is capable of accepting credit card, debit and prepaid card, and QR code payments. These new features provide its partners options in accepting payments for their business. Cardless withdrawal is also an additional service that ATM Go has recently offered.

The platform has been instrumental in providing cash relief to the beneficiaries of the government’s social amelioration program, through the Ayuda Arangkada program. This undertaking spearheaded by RCBC at the height of the pandemic in 2020 is the first massive private sector initiative that helped disburse government aid to its designated recipients. A total of P12.43 billion has been disbursed through the program, benefitting 4.4 million households or a total of 22 million individuals in 71 out of 81 provinces in the country.

The utilization of ATM Go is an innovative approach to digital banking, maximizing customer reach and impact by serving the majority of Filipinos living outside the cities, allowing them to have convenient financial transactions without having to travel far from home or spending an entire day just to withdraw or deposit their money.

The Financial Technology and Innovation Awards is a landmark recognition program that provides a benchmark to the institutional achievements and the changes in the technological landscape across the region. The awards recognize the emerging best practices in technology implementations and innovations and identify the challenges and learnings that other financial institutions can benefit from. The program is managed by The Asian Banker, the leading institution in strategic intelligence on financial services. It was established in 1996 and has offices across the globe.