The Taglish finance app also noted a jump in usage at 274 percent in volume transactions this month compared to last year’s average. “We hope that with this awareness campaign, more Filipinos will see the real value of savings especially during crises like this pandemic,” said RCBC president and chief executive officer Eugene S. Acevedo. Six months after its launch,, RCBC’s DiskarTech mobile app has given unbanked and underserved Filipinos a convenient way to deposit their money and keep track of their savings. One of the digital bank account’s goals is to help its users reach their financial goals through perks like its 3.25 percent annual interest on savings. DiskarTech saw a 42-percent growth in savings volume in January 2021 versus the previous month and a 38-percent increase in deposits per user in January compared to its 2020 average. “These numbers are very promising showcasing Filipinos’ resiliency amidst this challenging time. We hope to be a partner of every Filipino in our collective quest towards economic recovery,” said Lito Villanueva, RCBC executive vice president and chief innovation and inclusion officer. According to CEIC Data, the Philippines’ gross savings rate was measured at 12 percent in December 2020, higher than the previous quarter at 8.8 percent. The average savings rate from the period of March 1981 to December 2020 is at 17.7 percent. Due to the negative economic effects of the pandemic, it reached a record low of 6.1 percent in June 2020. “The pandemic has compelled us to rethink our financial attitudes. Despite its negative impacts, the pandemic has given us the opportunity to seriously look at the state of our finances. It has motivated many Filipinos to save more,” said Joyce Suficiencia, financial inclusion office director of the Bangko Sentral ng Pilipinas.