MANILA, Philippines — Yuchengco-led Rizal Commercial Banking Corp. (RCBC) has tied up with the Aboitiz Group to allow it to launch remittance and loan features in its financial inclusion app.
The listed bank partnered with Aboitiz-led Petnet Inc. to allow RCBC DiskarTech users to receive remittances from their loved ones overseas and apply for quick cash micro loan for as low as P500 with real-time crediting of loan proceeds.
RCBC president and CEO Eugene Acevedo said the direct remittance and the new quick cash loan feature would allow Filipinos to access finance solutions wherever they are, whenever they need them.
“This is our continuous commitment to serve Filipinos with the ease, warmth, and trust we at RCBC pride ourselves on,” Acevedo said.
RCBC partnered with Petnet’s Pera Hub, which has been in the financial services industry for over 25 years serving Filipinos through its over 3,000 locations nationwide.
The tie up would enable digital remittance transfers through Pera Hub’s award-winning digital remittance platform.
Families of overseas Filipino workers (OFWs) could now claim their Remitly, Sendah, and Japan Remit Finance Co. Ltd. remittances through RCBC DiskarTech.
The partnership allows RCBC DiskarTech users in the Philippines to claim remittances from their loved ones and family members straight to their RCBC DiskarTech account.
Meanwhile, the DiskarTech Loan offers quick and convenient lending services to pre-qualified and verified app users.
The users who have already availed of a P500 loan and have successfully paid it off, will become eligible to borrow higher amounts in their succeeding DiskarTech Loan.
The amount would automatically be credited in real-time to the user’s RCBC DiskarTech basic deposit account.
Lito Villanueva, chief innovation and inclusion officer at RCBC, said the new features would entice more unbanked and underserved Filipinos from far-flung communities to participate in the cash-lite economy we envision.
“Through digital financial services done in the comfort of one’s own home, formal banking will now be simple, safe, and fast,” Villanueva said.