With the aim of widening the financial inclusion base in the country, Rizal Commercial Banking Corporation’s DiskarTech continues to gain the trust and loyalty of more and more Filipinos nationwide for their digital banking and fund transfer needs.
This is reflected in the 2021 quarter-on-quarter usage growth of DiskarTech among its Filipino users, with a total throughput value of more than Php 2 billion for its second quarter, a 388-percent increase since January.
Total number of transactions done through the app also increased at 163 percent from 180,270 in the first quarter to 474,230 in the second quarter.
Among the top in-app services offered, Filipinos prefer to use the DiskarTech app for their outgoing Instapay transactions with 241 percent increase; deposits from partner merchants, stores, and institutions with 164 percent; and internal fund transfers with 157 percent.
DiskarTech users also took advantage of the app’s cardless withdrawal feature with a 597-percent transaction count growth valued at more than Php120 million by end of June 2021.
For deposits from partner merchants, stores and institutions alone, DiskarTech transacted more than P700 million in the second quarter, a 531-percent increase from more than P100 million transacted for the first quarter of this year. This is followed by outgoing Instapay transactions summing up to more than Php 1 billion at 435-percent increase, and internal fund transfers valued at more than Php 27 million with a 289-percent increase since January.
Total deposits using the DiskarTech app is also on an uptrend at 55-percent increase from the first quarter, bringing the deposit size value for the second quarter to more than Php 74 million.
“The sustained usage growth of DiskarTech for the second quarter of this year is a clear testament to the growing trust and confidence of Filipinos nationwide for the country’s first Taglish financial inclusion app. By waiving fund transfer fees for transactions done with other banks, we have removed one of the barriers that may discourage ordinary Filipinos to avail the services that we offer.” said Lito Villanueva, RCBC’s Executive Vice President and Chief Innovation & Inclusion Officer.
To further boost its customer usage experience, DiskarTech recently launched on July 1 its Bisaya version, making the app interface more understandable and accessible to customers living in the Visayas and other regions of the archipelago who speak the language. Moreover, DiskarTech also introduced this year its Batch Enrolment System (BES) with partner establishments and institutions, which makes it easier for prospective customers and users to access the DiskarTech app and avail of its services.
“RCBC remains committed in helping Filipinos, especially those coming from the geographically isolated and disadvantaged areas, to have easier access to different financial services,” said Eugene S. Acevedo, RCBC’s President and CEO.
Such innovations targeting better customer usage experience and financial inclusion paved the way for DiskarTech to be 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.