Instrumented Interconnecteds Intelligent
October, 23rd 2012
2:00
 

Dennis Bancod, CIO, Rizal Commercial Banking Corporation

By Dennis Bancod

Rizal Commercial Banking Corporation (RCBC), one of the leading private domestic commercial banks in thePhilippines, has grown rapidly over the last five years. To continue this momentum, we’ve set a goal of adding 10 million new customers by 2014. Many of these will include the so-called “unbanked” – farmers, small business owners and others in provinces of the Philippines where ATMs and bank branches are more scarce.

Technology and the transformation of our business model will be two of the most important drivers behind RCBC’s ability to bring banking to the masses.

Traditional banking technology and business models were developed around the characteristics of urban areas: high density of clients, relative proximity to cash distribution centers and the availability of  a telecommunications infrastructure, for example.

Not surprisingly, the economics of these models are not appropriate for serving clients in rural areas. Technology, however, has enabled new ways to interact with rural clients at significantly lower cost levels.

RCBC is teaming with IBM and Finacle from Infosys to transform our business and leverage new growth opportunities in an increasingly competitive consumer banking market. A new Finacle, IBM System z solution will provide the foundation RCBC needs to create value-added services that will increase customer adoption for our MyWallet electronic cash, debit and pre-paid cards, which gives the unbanked a great tool to conduct cashless transactions from their mobile devices or anywhere Visa cards are accepted.

The bank is targeting to grow our MyWallet card base by 4 million this year – more than doubling the 1.8 million users on-boarded last year. Among our initiatives to reach that goal are more partnerships with merchants that will lead to increased consumer acceptability and usage. The bank has already forged tie-ups with the Super 8 Grocery Warehouse chain, Enchanted Kingdom in Laguna, LBC Express Inc. and Mercury Drug. We plan more such partnerships in the months ahead.

RCBC also recently introduced a business loan program for small and medium sized enterprises (SMEs) called the Women’s Enterprise Loan developed specifically to address the needs of Filipina entrepreneurs. It’s one way the bank is responding to the government’s call to help empower local entrepreneurs through improved access to credit.

Since we re-launched it four years ago, RCBC’s SME Banking has expanded its portfolio by over three times to its present level of about P $15 billion. We are planning to expand total credits to this market to P $20 billion in the next 12 months.

RCBC is now positioned as a smarter bank, able to anticipate client needs and deliver innovative products to the unbanked and all our clients faster and more consistently than the competition. We are able to respond quickly and nimbly to changes in market conditions.

Bookmark and Share

Previous post

Next post

13 Comments
 
September 23, 2014
11:28 am

Sweet blog! I found it while browsing on Yahoo News. Do you have any
suggestions on how to get listed in Yahoo News? I’ve been trying for
a while but I never seem to get there! Cheers


Posted by: www.youtube.com
 
August 29, 2014
10:10 pm

You really make it seem so easy with your presentation but I to find this matter to be really one thing which I believe I
might never understand. It kind of feels too complicated and extremely extensive for me.
I’m taking a look ahead for your subsequent submit, I’ll attempt
to get the grasp of it!


Posted by: small new business
 
August 27, 2014
7:46 am

If you are taking any kind of sleeping pills to
help you sleep, every so often this can instigate bed wetting.
You can take one tablet, even on an empty stomach,
half an hour before turning in for bed. Repeated nights of lack
of sleep can affect a person’s physical and mental functioning.


Posted by: rem sleep behavior disorder rbd
 
August 27, 2014
1:47 am

I experienced this firsthand several months ago in the last tuition-freeze when I could not apply
for my Tuition Assistance in my final semester of college.
If you make regular journeys you can get email alerts
when items that need delivering are listed. That goes for potentially distracting email addresses, your Web site,
zip code or any words and images that don.


Posted by: yellow pages maryland
 
August 23, 2014
5:09 pm

have been exploring for a little for any high quality articles or weblog posts on this kind of house


Posted by: Weight Destroyer Review
 
August 18, 2014
4:00 pm

This site is known as a stroll-by means of for all of the info you wanted about this and didn


Posted by: Restore My Vision Review
 
August 17, 2014
3:38 am

If you desire to get a good deal from this piece of writing then you have to apply these strategies to your won website.


Posted by: Malibu Kayak stealth 12
 
July 11, 2014
12:02 pm

Thanks for sharing superb informations


Posted by: mi40x download
 
May 19, 2014
12:35 pm

Thank


Posted by: Money Making Walkthroughs Review
 
March 29, 2014
5:16 am

This site is known as a stroll-by means of for all of the info you wanted about this and didn


Posted by: Telecharger Pokemon X et Y rom
 
December 19, 2012
6:33 am

Nice to see that you are trying to expand your banking operations into rural areas and trying to target those unbankable people and companies that cannot access traditional banking establishments. However, from my experience, many unbankable people as you call them don’t deal with banks becuase they don’t want to – don’t want to pay the fees and mess with the hassle.
It is also nice to see that you are trying to push small business loans to rural or minority companies that really need them to grow their solid businesses – this is where I think you will get your most value.


Posted by: Business Loan
 
December 6, 2012
2:47 am

Hello there, just became aware of your blog through Google, and found that it is really informative. I’m gonna watch out for brussels. I will appreciate if you continue this {in future}. A lot of people will be benefited from your writing. Cheers! sell gold Melbourne


Posted by: IolaEngelhard
 
November 29, 2012
10:35 pm

I have been surfing online more than three hours these days, yet I never found any interesting article like MelvinSmetana yours. It’s lovely worth enough for me. In my opinion, if all webmasters and bloggers made just right content as you did, the internet shall be much more useful than ever before.


Posted by: domain expiration
 
Post a Comment