RCBC Introduces New Key Features in Revitalized Mobile Appby Fintechnews Philippines January 6, 2020
Yuchengco-led Rizal Commercial Banking Corp. (RCBC) introduced many firsts in its revitalized mobile banking app with enhanced user interface and other new online banking features to optimize digital customer experience.
Among these new features include the multi-currency foreign exchange or buy-and-sell supporting 6 currencies such as, Euro, British Pound, Hong Kong Dollar, Japanese Yen, Singapore Dollar, and US Dollar; online time deposit placement up to P10 million or US$ 200,000; and online and mobile government payments via PESONet in partnership with the Land Bank of the Philippines.
Highlights of the new RCBC mobile app include the push and pull payments through QR Ph, the government’s national QR code standard promoting interoperability across payments providers in the country as well as the in-app enrolment, and online check deposit for On-us checks, among others. The new app has improved security features such as biometrics log-in, one-time password verification, and device registration where account can only be accessed on registered devices.
RCBC Chief Innovation and Inclusion Officer Lito Villanueva said that all these new innovations form part of the robust digital ecosystem building to make banking more agile, adaptive and inclusive ensuring an always-on engagement
“Filipinos should expect for more digital-enabled banking products and services coming their way as we usher in 2020, further scaling digitalization and financial inclusion. Embracing these innovative fintech solutions would surely bring an inclusive and sustainable digital economy”
In a recently released study of the United Nations-based Better Than Cash Alliance (BTCA) it reported that the volume of e-payments usage in the Philippines grew from 1% in 2013 to 10% in 2018, while the value of e-payments rose from 8% to 20% during the same period. The study also revealed that women in the Philippines are ahead of the men in adopting digital payment solutions.