The Bank of Botswana (BoB) plans to create its own version of Rizal Commercial Banking Corporation’s (RCBC) award-winning digital solution – RCBC ATMGo, in their home country. The bank agnostic, grassroots-based, and mobile powered RCBC ATMGo is among the three digital solutions showcased by RCBC Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva to BoB Deputy Governor Dr. Tshokologo Alex Kganetsano to help jumpstart the African bank’s digital transformation.
“We are beyond elated for RCBC to be chosen as a benchmark for the Bank of Botswana. By becoming a standard for other countries, RCBC fulfills its mission of redefining inclusive banking through cutting-edge innovations in both the local and international scenes,” Villanueva said.
RCBC ATMGo is the Philippines’ first community-based, bank-agnostic, last mile ATM service that uses mobile point-of-scale devices to make bank withdrawals, balance inquiry, bills payments, bank transfers, phone credits loading, and cardless withdrawals available and accessible to people in geographically isolated and displaced areas. It has been the Philippine government’s trusted digital payment disbursement partner even before and at the onset of the COVID-19 pandemic, which continues until present for the withdrawals of social welfare benefits for Conditional Cash Transfer household recipients under the Pantawid Pamilyang Pilipino Program (4Ps) of the national government. Close to 70% of its transactions are cash withdrawals of Pantawid CCT household beneficiaries done in rural areas.
RCBC is the only private universal bank in the country with the most extensive reach through its RCBC ATM Go network covering all 82 provinces nationwide with over 1,400 terminals deployed at the end of 2022 and is poised to grow to 10,000 units or a projected year-on-year growth of 614%. “This is a testament that investing in the rural and remote areas for convenient bank access can be a risky step but can ripple change industry-wide and globally,” Villanueva added. RCBC ATMGo now has over 1,200 partner-merchants.
RCBC hosted the Bank of Botswana delegation in its RCBC CollHub or Collaboration Hub in Bonifacio Global City, Taguig. Joining the BoB delegation were Ms. Sheila Sealesta, Advisor of Banking Currency and Settlement Department; Mr. Julius Ghanie, Director of Information and Communications Technology Department; Mr. Moeti Modimana, Head of Property Management Procurement and Projects; Ms. Ruth Baltshepi, Coordinator of Digitalization and Innovation Hub; and Mr. Vincent Golebetswe, Banking Manager.
RCBC has been awarded the Philippines’ Best Bank for Digital for three consecutive years given that “when it comes to digital solutions, RCBC remains the bank to beat,” according to Asiamoney. RCBC rose from eighth in 2018 to fifth in rank by the end of 2022 amongst the Philippines’ largest privately-owned universal banks in terms of assets. With close to 80 regional and global accolades in three years, RCBC was also the first Philippine bank to receive the YouTube Challenger award for its trailblazing and viral digital ad campaign which generated over 14 million views in a few weeks. It was also recognized by the local banking industry as the Grand Champion for Digital Payment and Financial Inclusion by the Bankers Association of the Philippines (BAIPHIL).
Featured photo:
From (L-R): Bank of Botswana (BoB) Banking Manager Vincent Golebetswe; Novus Technologies Vice President of Strategic Initiatives Sidath Wijeratne; BoB Head of Property Management Procurement and Projects Moeti Modimana; BoB Advisor Sheila Malebogo Sealetsa; RCBC Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva, BoB Coordinator Ruth Baitshepi; BOB Deputy Governor Dr. Tshokologo Alex Kganetsano; BoB Director Julius Ghanie; and Novus Technologies President and Chief Executive Officer Ricardos Khoury.
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