DiskarTech is the new disbursement platform of choice for Filipinos
Rizal Commercial Banking Corporation’s (RCBC) financial inclusion super app DiskarTech is gaining ground as a preferred disbursement platform of Filipinos for social aid, loans proceeds, dividends, and other digital payments.
In the last two months, DiskarTech averaged 83% in month-on-month growth in volume of received funds from Social Security System (SSS).
Value of cash disbursements by the state-run insurer to DiskarTech also grew an average of 77% in the last two months, from March to April and April to May.
Meanwhile, real-time crediting of dividends payments of Manila Electric Company (Meralco) is now available for stockholders who appoint DiskarTech as their settlement account.
Power utility giant and RCBC Stock Transfer Agency have automated the distribution of dividends to stockholders, eliminating the need for physical checks, through the Cash Dividend Direct Credit Program (CDDCP).
The safe, secure, and efficient payment option can be enjoyed in real-time by stockholders by nominating DiskarTech as their settlement account. Meralco shareholders need only accomplish the CDDCP form to enjoy this service. Application details and forms can be accessed at www.rcbc.com/stocktransfer .
“Filipinos are finding more and more use for DiskarTech in their daily lives. Through our partnerships with different government agencies and the private sector we are able to make RCBC’s digital transformation work for everyday Filipinos,” said RCBC President and CEO Eugene Acevedo.
Since the start of community quarantines in March 2020, RCBC has disbursed P14.8 billion in government aid subsidy of the Department of Social Welfare and Development and the Department of Labor and Employment to over 4.11 million households or over 20.56 million individuals.
“DiskarTech proves to be a useful tool to everyone looking into digital banking for expanded financial services. These partnerships prove that we have a wide range of users to cater to. We encourage everyone to avail of the app’s products and services,” said Lito Villanueva, Executive Vice President and Chief Innovation and Inclusion Officer of RCBC.
Disbursed funds to DiskarTech basic deposit accounts earn 3.25% annual interest. Each account has a cap of P50,000, as mandated by the Bangko Sentral ng Pilipinas.
RCBC is one of the leading universal banks accelerating digital transformation in the Philippines. It was hailed as the Philippines’ best retail bank in the 2021 Global Banking and Finance Review Awards. It is also the best digital bank for the International Business Magazine and the Business Tabloid in 2021 and by the Asiamoney and the Alpha Southeast Asia in 2020, 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 mobile apps RCBC Mobile and DiskarTech. Its digital products include RCBC mobile and online banking, handheld ATM Go mobile point-of-sale terminals, and DiskarTech, among others. DiskarTech was recognized as the 2020 breakout finance app in the country by App Annie, a global data analytics firm covering all mobile applications worldwide.