RCBC Diskartech paves way to financial inclusion

By John Noel Herera

Rizal Commercial Banking Corporation (RCBC) DiskarTech is paving the way to digital inclusion as it brings together all online financial services closer to the public, including banking, bills, payment, remittance, loans, and insurance.

During the “Moneybela Barangay Banking” in Iloilo City on Monday, Jan 9, 2023, RCBC said that through DiskarTech, consumers from far-flung areas and even micro, small, medium enterprises (MSMEs) can open digital savings accounts without the need for an initial deposit and at zero maintaining balance.

RCBC Moneybela gives underserved and unbanked Filipinos access to the same financial services offered by physical banks, such as basic deposit account creation, bill payments, e-load, cash in and cash out, micro insurance, and telemedicine purchase via DiskarTech.

The “super app” also offers safe and affordable loans where they can choose from different loan providers housed in the mobile app depending on their preferred interest rates, duration, and other important variables consumers need to consider.

RCBC said that this will help struggling individuals or even MSMEs not to borrow money from loan sharks and informal lenders with high-interest rates.

It also expanded the number of acceptable IDs for faster account verification to facilitate more convenient account registration and verification on the part of its users.

RCBC Vice President Myles Joseph Sotelo also said that with DiskarTech’s high-interest savings account at 3.25 percent interest per year, users can grow their savings just by keeping the money safe in their individual accounts.

It also has safe cash-in and cash-out options which allow users to deposit and withdraw money in the mobile app, as well as transfer funds to different banks and other mobile wallet apps.

Aside from these, users can also buy loads as they just need to input their mobile number and choose the load denomination or promo they want to purchase, while they can also pay bills using the app by selecting the biller and entering their payment details.

DiskarTech also offers affordable insurance plans and convenient telemedicine services for users to have easy access to online medical services.

The Telemedicine services range from 24/7 access to PNT call center nurses and doctors, medical consultation, video, audio, and text-based service interactions, electronic prescriptions, medical certificates, and laboratory requests.

The app also features RCBC DiskarTech Lite as a partner in the payout for cash assistance, like the recent distribution of the Department of Social Welfare and Development’s Social Amelioration Program during the height of the COVID-19 pandemic.

Data also indicated that since the start of the pandemic, RCBC was able to disburse P14.8 billion in government aid subsidies for DSWD and DOLE to over 4.11 million households or over 20.56 individuals.

Meanwhile, Sotelo also assured the users of the safety of the application as it has a passcode, one-time pin, and biometric features which secure the safety of the account from scammers and hackers.

DiskarTech, which was launched in 2020, aims to make banking more available to the public who do not use or do not have access to mainstream financial services, like opening savings accounts and the like, particularly those who live in far-off provinces.

DiskarTech, overall, aims to bring financial inclusion, introduce digital literacy to the masses, and provide safe, convenient and secure financial services through its many features and support.