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RCBC Moneybela Barangayan Banking Fuels PH’s Financial Inclusion Campaign

Rizal Commercial Banking Corporation’s (RCBC) MoneyBela Barangayan Banking boosted bank onboarding in rural areas by 210%, reached a total of 13,116 barangays or approximately 31% of the 42,000 total barangays nationwide, enabled millions of unbanked and underserved Filipinos to open their first basic deposit accounts, and grew gross transaction volume by 103%. This remarkable feat was accomplished in a record time of only six months since the flagship program was launched in November 2022.

The RCBC MoneyBela Barangayan Banking is a one-of-a-kind campaign and the first in the Philippines that hybridizes physical-digital or phygital banking services serving geographically distant and disadvantaged and conflict areas of the country. It fuses the best features of digital banking and human connection by bringing RCBC’s award-winning and world-renowned digital solutions to marginalized and rural communities, including RCBC DiskarTech and RCBC ATMGo.

The Moneybela campaign also engaged micro, small, and medium enterprises (mSMEs) through the RCBC NegosyanTech program which empowered sari-sari store owners, family-owned establishments, and grassroots businesses to earn additional income and capital by facilitating digital transactions such as cash deposits and withdrawals, bank transfers, bills payments, e-loading, and availing of teleconsultation plans and microinsurance.

As a core component of Moneybela Barangayan Banking, RCBC ATMGo is the country’s first bank-agnostic, last mile, and grassroots-oriented mobile-point-of-service ATM service, to Filipinos in geographically isolated and disadvantaged areas such as Busuanga, Coron, and Cullon in Palawan province, and in armed conflict-prone areas such as Lake Sebu in South Cotabato, and all provinces under the Bangsamoro Autonomous Region of Muslim Mindanao. The residents can withdraw government benefits without having to travel far and spend on costly transportation. RCBC ATM Go also provided additional income to small entrepreneurs who became RCBC’s ATM Go partner merchants and helped RCBC serve Filipinos in remote 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%. RCBC ATMGo now has over 1,200 partner merchants. More than 65 percent of ATM Go’s financial transactions are social grants and cash withdrawals by household beneficiaries of the national government in geographically isolated and disadvantaged areas.

 RCBC conceptualized the Moneybela Barangayan Campaign as a response to the call of the Bangko Sentral ng Pilipinas (BSP) to expand financial inclusion and literacy efforts, as well as the concerns of yet-to-be-banked Filipinos that they are not digitally literate and they need assistance in bank onboarding. RCBC had special launches of this initiative during the Kadayawan Festival in Davao City and Masskara Festival in Bacolod City in 2022, and early this year, in the Dinagyang Festival of Iloilo City and in the Pinya Festival of Calauan, Laguna recently.

Making financial inclusion happen, one barangay at a time. Moneybela Barangayan Banking in action at Cabanatuan City.

Lito Villanueva, RCBC Executive Vice President and Chief Innovation and Inclusion Officer, shared that the campaign successfully targeted unbanked Filipinos who were reluctant to embrace digital finance because of a lack of knowledge and underserved Filipinos who lived in areas wherein few or no banks and ATMs are operating to cater to their daily needs.

“By combining the power of revolutionary digital solutions and the impact of meaningful human relationships, RCBC has successfully created a compelling case study of engaging Filipinos in remote, marginalized, distant, and conflict areas and providing them with financial and digital literacy, and access to a wide array of empowering products and services,” said Villanueva.

“The massive growth of our digital products and services can be attributed to our philosophy that Innovations should come with Empathy, and to the diligence and ingenuity of each RCBC employee whose dedication to finding and creating breakthroughs in finance is forever inspiring,” added Villanueva.

RCBC MoneyBela, being the first of its kind, has earned commendations from none other than the Philippines’ finance leaders, BSP Governor and Monetary Board Chairman Felipe Medalla and Department of Finance Secretary Benjamin Diokno, during its official launch at the RCBC Plaza last year.

“I am really so happy that if there’s any bank that embodies the goal of bringing BSP closer to the people, it is RCBC. You [RCBC] deserve all the honors you are getting for combining old ideas like cash-lite banking,” Gov. Medalla said.

“Beyond bringing more Filipinos into the fold, your latest project [RCBC MoneyBela] shows that the future of banking requires human-centric and empathy-driven design. I am very pleased to see RCBC make significant headway in this area,” Sec. Diokno said.

RCBC is one of the country’s fastest-growing banks, and the most awarded for its banking innovations.  It is now the Philippines’ 5th largest privately-owned universal bank that breached the P1-Trillion asset mark by the end of June 2022 despite the COVID-19 pandemic. RCBC’s continuing digital and business transformation further enhanced its value and reach. With this, RCBC has become the most awarded bank in the Philippines. Among its global and local recognitions include a three-peat award as the Philippines’ Best Bank for Digital by Asiamoney, back-to-back wins for Best Financial Inclusion App by The Asian Banker’s Financial Technology Innovations Awards, and the YouTube challenger award for its viral and out-of-the-box digital ad campaigns generating combined views of over 17 million. Just recently, RCBC was also hailed as the Grand Champion for Digital Payments and Financial Inclusion by the Bankers Institute of the Philippines.

 

#RCBCMoneyBela #rubyspreciousmoments #rubyasoyph

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Bank of Botswana Seeks Inspiration from RCBC’s Digital Success

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.

 

#RCBC #BankofBotswana #digitalsolutions #rubyspreciousmoments #rubyasoyph

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CCP Cultural Exchange Conducts Apprenticeship Program for its Kaisa Sa Sining Network

The Cultural Center of the Philippines (CCP), through its Cultural Exchange Department (CED), conducts the 2023 Apprenticeship Program for its Kaisa sa Sining (KSS) regional arts centers on-going until June 17, 2023.

 With ongoing rehabilitation of the Main Building, the CCP CED partnered with De La Salle University (DLSU), with the MSU-IIT IPAG Inc. of Iligan City as implementing partner, for this year’s Apprenticeship Program. The two-week capacity building is held at the DLSU Pardo Hall and the Teresa Yuchengco Theater.  

 This year, there are a total of 40 apprentices from 22 provinces and cities nationwide (13 from Luzon, 10 from Visayas and 17 from Mindanao). In the past years, the program accepted 20 apprentices per year and offered training and immersion on arts and production management, film and new media, visual arts, production design, library and archives, video production, and cultural exchange. 

For 2023, the CCP decided to accept more participants to train and focus on technical theater operations and stage management, which are the priority needs of the majority of the KSS partner organizations.

 The apprentices will receive mentoring on technical theater, with accompanying lectures, interactions, demonstrations, case studies, and practical applications from trainer-facilitators Arnelio Manzano, Joey Nombres, Ed Murillo, Roman Cruz and Orlan Absin.

The hands-on training modules are designed to enhance the competence level and skills of regional cultural workers in technical theater, stage management, and arts management.

 Now in its 6th year, the two-week capacity building training-workshop is one of the support programs that the CCP CED provides for its KSS network, which has 64 members nationwide to date, composed of local government units, educational institutions, and community-based organizations. 

 

#CCP #apprenticeshipprogram #rubyspreciousmoments #rubyasoyph

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Ed Sheeran releases his new single ‘Eyes Closed’

Ed Sheeran has released his new single ‘Eyes Closed’ alongside the official video (watch here).

Ed originally wrote ‘Eyes Closed’ a few years back. Starting as a break-up song, the lyrics took on a whole new meaning after Ed suffered a heartbreaking loss, which led him to revisit and reimagine the original version of the track for ‘-ʼ. One of the most pop-leaning sonics on his highly anticipated new record, ‘Eyes Closed’ captures the essence of love and loss, which is also reflected in the official video. Directed by Mia Barnes, we see Ed on a night out being followed by a blue monster – serving as a metaphor for grief, Ed is unable to shake it, wherever he goes, reminding him of the void that’s left in his life.

Speaking of the new song and the video, Ed says, “This song is about losing someone, feeling like every time you go out and you expect to just bump into them, and everything just reminds you of them and the things you did together. You sorta have to take yourself out of reality sometimes to numb the pain of loss, but certain things just bring you right back into it.

When I was thinking of concepts for the Eyes Closed music video, I wanted to make a video inspired by movies like Harvey, where the main character has an imaginary friend who’s a giant rabbit that no one can see. There’s also a book I read to my daughters where sadness is encapsulated by an imaginary creature. Often sadness is something that follows you around, engulfing the rooms you’re in, and you can feel and see it, but no one else around you can. So I decided to create my own big blue monster for the video. He gets bigger and bigger as the video goes on, til he takes up whole rooms, and is all I can see, just like sadness.”

Announced earlier this week, his all-new, four-part documentary “Ed Sheeran: The Sum of It All” will air on Disney+ from 3 May 2023. Blending never-before-seen personal archives, interviews, and performances, the intimate documentary explores how his personal experiences have shaped him to become the artist he is today.

 

 #EdSheeran #rubyspreciousmoments #rubyasoyph

 

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Bring out a Happier, Healthier, and More Beautiful You With Watsons

There’s no better place to get your health, wellness, and beauty essentials than Watsons! With over 1,000 stores nationwide, and Watsons also offers different ways to shop such as Express Delivery, which lets you have your products delivered at your doorstep within 3 hours, and Click and Collect Express wherein successfully placed orders are verified and prepared within 24 to 48 hours, after which your order will be delivered to your selected Click & Collect store.

Only Watsons can bring out the Happier, Healthier, and More Beautiful You with a wide selection of health and beauty products, and services and the most experienced, knowledgeable, and trustworthy pharmacists and beauty advisors to help you make informed choices.

These Watsons health and beauty partners will help you to navigate the world of health, wellness, and beauty by choosing the right products and services for you and your family.

Whether you’re looking for medicines, vitamins and supplements, and beauty products to complete your makeup and skincare regimen, Watsons has got you covered.

For overall health and wellness

We may already be in a post-pandemic era but you still need to keep your immune system strong so that your body will be equipped to ward off illnesses. For the little ones, get Propan TLC Syrup, which has vitamin C (for immunity), lysine and vitamin B (to help boost the appetite), and vitamin D (to boost growth). For the adults, get Conzace Softgel Capsules which have zinc and vitamins A, C, and E to help build your immunity. Redoxon Effervescent Tablets contain ascorbic acid and zinc to sustain good health.

For sustained energy

If you are into sports or work out every day, you need an extra dose of protection! Watsons Brand offers Vitamin B-Complex Tablets which help in the conversion of food to energy and support numerous normal body processes. Neurobion has vitamins B1+B6+B12 to protect and nourish your nerves. Supraneuron also offers nerve protection so that you’re always ready for action and adventure.

For a good night’s sleep

Good sleep helps improve overall wellbeing. Make sure you’re getting 6-8 hours of sleep at night. Getting a good night’s sleep will prevent chronic long-term health problems. For your sleep needs, Melatonin regulates night and day cycles or sleep-wake cycles. You can also get Puritan’s Pride Melatonin Gummies and Sleepwell Melatonin from Watsons. Nightol also has melatonin to help you get a good night’s sleep.

What are you waiting for? Head to the Watsons app, be a Watsons Club member to enjoy great deals and discounts and start your journey to health and wellness.

Enjoy P100 off when you download the Watsons app through this link http://bit.ly/WatsonsMobileAppTerms and conditions apply.

Visit any of 1000+ Watsons stores nationwide or pick up your orders at your nearest Watsons store in 30 minutes or less via Click & Collect or have them delivered to you in 3 hours through Express Delivery*.

For more information, follow @watsonsph on Instagram, like @WatsonsPH on Facebook, and follow @watsonsphilippines on TikTok.

*Available in select cities only. Delivery fee capped at Php 50 or enjoy free delivery for a min. spend P500. Wait for your order confirmation from the app and via SMS to know when your package will be delivered.  Learn more about Click & Collect and Watsons Express Delivery by visitingwww.watsons.com.ph/shipping-delivery

 

#Watsons #WatsonsPH #rubyspreciousmoments #rubyasoyph

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All that you need for an enjoyable summer getaway is in Iloilo City

Despite the rains, summer is still in full swing, so if you’re looking to explore more of the charm and beauty of the Philippines, then Iloilo City is your best bet for a fun and exciting getaway with its myriad of attractions that will appeal to any kind of traveler!

Preparing a trip for your family, friends, or even just for yourself is simple and easy with Richmonde Hotel Iloilo’s ILOILO SUMMER GETAWAY PACKAGE which comes complete with all the essentials for a splendid visit to the City of Love. Get luxurious and spacious accommodations in the heart of premier township Iloilo Business Park, and just a few steps away from the modern and trendy Festive Walk Mall.

RHI Deluxe Twin Room

Enjoy a sumptuous buffet of international breakfast favorites at the hotel’s all-day dining restaurant, The Granary, to fuel up your adventure-filled day. Sightsee in comfort and get the most out of your day trips with guided tours you can book through the hotel at 15% discount. Whether you enjoy the sun and sand, food, history and culture, nature, farms and gardens, religion, and popular tourist attractions, there is a tour for you. Available tours include heritage, pilgrimage, countryside farm, culinary, mystery house, Isla de Gigantes, Sicogon Island, and Guimaras.

After a day of exploration, you can relax in the comforts of your room and de-stress with a soothing massage and indulge in some pampering at 15% discount for package takers. If you still can’t get enough of the sun, you can take pleasure in the posh resort-feel of the hotel’s picturesque pool area with its glorious sunset view.

Spend the day lounging by the poolside with a refreshing drink in hand, or keeping your cool and making a splash in the water. The Iloilo Summer Getaway room package also includes 10% discount on food and beverage orders which can both be availed either at Zabana Bar or BizBar. For those who want to keep the adrenalin rush after an exhilarating tour, the hotel’s Fitness Center gym is available for use 24/7.

The Iloilo Summer Holiday package rates are marked down until June 15, 2023 and start at only PhP 5,300 nett for Sunday to Thursday stays and PhP 5,500 nett for Friday and Saturday stays.

For inquiries and reservations, call Room Reservations at +6333 328-7888 or mobile number 0917-5809642; or email stay@richmondeiloilo.com. To get instant confirmation, book online at www.richmondehoteliloilo.com.ph. Terms, conditions, and blackout dates apply to this promotion. Rates are not valid in conjunction with other promotions and discount privileges. Per DTI Fair Trade Permit No. R6-ILO-04-024, Series of 2023.

 

#RichmondeHotelIloilo #Iloilocity #Philippines #rubyspreciousmoments #rubyasoyph

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Are you passionate about beauty? Be the next LazBeauty Campus Ambassador!

If you’re as beauty-obsessed as LazBeauty besties Gabbi Garcia, Kryz Uy, or Rei Germar, this is your chance to become the newest LazBeauty Campus Ambassador!

Represent your campus and enjoy P 20,000 worth of Lazada wallet credits, a LazBeauty Club bundle, and exclusive access to LazBeauty events by following these two easy steps:

STEP 1

Create and post a 1-minute Tiktok or IG reel video introducing yourself while doing a makeup transformation using your school colors, and tell us why you love being a LazBeauty Club member!

STEP 2

Add the school you are reppin’ (representing) in the caption along with #LazBeautyCampusAmbassador and tag @lazadaph.

Why LazBeauty? Take it from Gabbi Garcia: “with awesome deals and plenty of brands to choose from, Lazada lets you be your truest self with LazBeauty. It’s beauty for everybody!” Kryz Uy says: “You don’t just get discounts and vouchers, you get to make better-informed choices because of your LazBeauty Bestie Community!”

Join the search now and be the next LazBeauty Campus Ambassador! The deadline for submissions has been extended to June 15, 2023, only. For more information, visit Lazada PH on Instagram, Tiktok, Facebook, and YouTube.

 

#LazBeauty #LazadaPH #rubyspreciousmoments #rubyasoyph

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Feel Refreshed With Beko Air Conditioners

Say hello to the season of heat — this is the season where we all tend to cool down ourselves, so this is the time we seek ways to keep ourselves cool even with the summer heat.

You can enjoy the heat season without breaking the bank since the global appliance brand Beko offers a wide range of energy-efficient air conditioners to let you escape the summer heat and beat high electricity bills.

Feel refreshed with the Beko BSEOG Split Air Conditioner series! The Beko BSEOG Inverter Premium Series includes features such as the Double Gold Guard. It is an evaporator and condenser coil coated with hydrophilic gold and can improve heating efficiency by accelerating defrosting. This evaporator and condenser can withstand the salty, air, rain, and other corrosive elements and it effectively prevents bacteria build up.

Worry no more about cleaning as it has a Go Clean feature, a frost cleaning system where the evaporator coils blow hot air to defrost the ice and dry it thoroughly.

You might also be moving around your home to do some chores. Just like the Beko BSEOG 120 and BSEOG 121, it’s a great thing that these air conditioners have a Zone Follow feature where you can get more precise and effective temperature control. The remote controller sensor will sense the temperature around the user to ensure an even temperature for user comfort.

Beko air conditioners have 4D Air Outlet technologies that lets you now feel comfortable every inch of your room that lets you focus on your tasks.

Got plans to stay outside? Welcome yourself home with comfort since you can open your Beko air conditioner even when you’re away with HomeWhiz! With this feature, you can control your Beko BSEOG air conditioner from your smartphone by connecting to the internet, even outside. HomeWhiz allows you to keep the ideal conditions for you to feel comfortable until you’re back home.

Worried about the dirt that’s in the air? Worry no more since the BSEOG series also contains a MicroClean filter that captures tiny airborne dust particles that may pollute the air.

With the self-cleaning feature, the air conditioner could provide clean air to the user, preventing bacteria from breeding in the unit. Even when you turn the unit off, it will keep running to ensure the coil surfaces are totally dry, protecting them from getting rusty, before stopping automatically.

So, what are you waiting for? Cool your home and feel comfortable with Beko’s air conditioners this summer!

Beko appliances are available at Abenson, All Home, Anson’s, Appliance Centrum, Asian Home Appliance, Automatic Centre, BHF, Fair N Square, Gloria Bazar, Great World, HAT, J Marketing, Lazada, Magic Appliance, Manhattan Appliance, Manila Imperial, Mike’s Appliances, Our Builders Warehouse Pricewise, Robinsons Appliance, Savers, SVC & Plusign, Shopee, SM Appliance, Solidmark, S&R (Gidi), United Mottoaliance, Western Appliance and 1st Megasaver.

For more information about Beko in the Philippines, go to http://beko.ph or visit their Facebook page at https://www.facebook.com/bekoph and their Instagram page at https://www.instagram.com/bekoph/.

 

#Beko #LiveLikeAPro #AirConditioners #rubyspreciousmoments #rubyasoyph

 

 

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FinTech industry launches nationwide consumer cybersecurity education campaign

The Philippines’ premier digital and fintech association FinTech Alliance.PH has launched a multistakeholder national cybersecurity awareness and education campaign tagged #WagMagpalokoMagingScamAlerto! aimed at educating millions of Filipino smartphone and online users against phishing scams last May 29, 2023, at Shangri-La The Fort in Taguig City.

The industry-led multistakeholder national consumer cybersecurity campaign is being led by the FinTech Alliance in partnership with the Bangko Sentral ng Pilipinas, National Bureau of Investigation, Philippine National Police, Anti-Money Laundering Council, Securities and Exchange Commission, Insurance Commission, National Privacy Commission, National Telecommunications Commission, Department of Trade and Industry, telecommunications companies, consumer groups, and media groups.

BSP Governor Felipe Medalla.

“I am proud to see everyone working hard to make the Nationwide Consumer Cybersecurity Education Campaign an effective and invaluable tool in helping accelerate the Philippines’ Digital Economy. You can count on BSP to be a staunch supporter of our project. We will continue to work hand in hand with all of our stakeholders and ensure the far-reaching impact of this campaign,” said BSP Governor Felipe Medalla.

“With all industry players, government, media, and Filipino consumers working together, we’re ready to unlock the power of cybersecurity with consumer education! We enjoin all FinTech Alliance member companies to have our campaign on all your social media platforms and use the hashtag #WagMagpalokoMagingScamAlerto,” said Lito Villanueva, founding chairman of the Fintech Alliance.PH and RCBC executive vice president and chief innovation and inclusion officer.

Lito Villanueva, founding chairman of the Fintech Alliance. PH.

The massive nationwide multistakeholder cybersecurity education and awareness campaign was launched in response to the emergence of risks and threats to users’ safety and to ensure sustained consumer trust on digital payment platforms. With various organizations coming from the private sector, the government, and the media, FinTech Alliance.PH hopes to combat the rising tide of cybercrime through multiple prongs and engagement strategies.

The leading FinTech organization also jump-started the first cohort of the Cambridge FinTech Regulatory and Innovations (FTRI) Program. The Cambridge FTRI program is by the Judge Business School of the University of Cambridge in Southeast Asia in partnership with Mapua University in the Philippines. The program targets the development and training of regulators, legislators, policymakers, practitioners, and professionals in banking, fintech, and digital industries.

The two initiatives by the Alliance were among the key events in their recent General Membership Meeting with the theme, “Accelerating the Philippines’ digital economy and unlocking the power of consumer education on cybersecurity.” At the same event, BSP Governor Medalla gave a keynote speech entitled, “The Current Philippine Digital Landscape: What’s Next Beyond the Digital Payments Transformation Roadmap.”

S&P Global APAC Chief Economist Rajiv Biswas also gave an outlook on the Philippine Economy, highlighting the country’s trajectory towards being a one trillion US dollar economy by 2033.

“We cannot do this as an industry without building a very strong strategic collaboration with regulators that allows an enabling environment for inclusive innovations. From co-developing the National Retail Payments System, National Strategy for Financial Inclusion and other regulations on emerging technologies such as virtual assets, regulatory sandbox, and digital banking, to open finance, and central bank digital currency, among others,” Villanueva added.

New FinTech Alliance corporate members were sworn in by BSP Governor Medalla. From just 15 founding corporate members in 2017 to nearly 100 in 2023.

FinTech Alliance.PH, the Philippines’ premier, and largest digital and fintech association, is composed of startups and unicorns that account for over 95 percent of digital-initiated transaction volume in the country.

For more information, visit https://www.fintechalliance.ph/.

#FintechAlliancePH #cybersecuritycampaign #rubyspreciousmoments #rubyasoyph

 

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RCBC provides last mile banking to 4Ps/CCT families in Lake Sebu

Philippines’ leading challenger bank, Rizal Commercial Banking Corporation (RCBC), through its partnership with the Department of Social Welfare and Development (DSWD), successfully assisted hundreds of Pantawid Pamilyang Pilipino Program (4Ps)/Conditional Cash Transfer (CCT) beneficiaries to easily and quickly cash out aid from the national government through RCBC ATM Go partner merchants in Lake Sebu, South Cotabato, an identified geographically isolated and disadvantaged area (GIDA) by the DSWD.

RCBC’s partner sari-sari stores – Ebanen, Sigfred, and Negros Rice – were able to facilitate over P2 million cash withdrawals by 4Ps/CCT household beneficiaries in three days.

RCBC ATM Go is the country’s first grassroots-based, bank agnostic, and last mile handheld automated teller machine which utilizes mobile point-of-sale devices to dispense financial services in unbanked and underserved communities.

RCBC is currently the only Philippine private universal bank that has the most extensive reach covering 100% of the country across all its 82 provinces with close to 2,000 terminals operated by thousands of its partner merchants. More than 65 percent of RCBC ATM Go’s financial transactions are social grant cash withdrawals by CCT/4Ps household beneficiaries of the national government mostly residing in remote communities. RCBC  is also the only Philippine bank that has the most number of ATM Go terminals in excess of 100 units servicing  all five provinces under the Bangsamoro Autonomous Region in Muslim Mindanao covering Basilan, Lanao del Sur, Maguindanao, Sulu, and Tawi Tawi.

Under the RCBC-DSWD Memorandum of Agreement signed in December 2022, RCBC will provide alternative payout channels for 4Ps/CCT beneficiaries.  Prior to this engagement, RCBC has already collaborated with DSWD during the COVID-19 pandemic. In 2021, RCBC was able to assist the national government in distributing more than Php 21.3 billion through its social amelioration program to over 5.6 million household beneficiaries benefitting 28 million aggregate-covered individuals.

“RCBC has been tirelessly working to make banking available and meaningful for all Filipinos through our RCBC Moneybela Barangayan Banking and RCBC ATM Go  servicing millions of Filipinos in the countryside,” says RCBC Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva.

“RCBC’s mantra has always been innovations with empathy, and this is best relayed through digital-forward and frictionless banking services such as what RCBC ATM Go provides to those who live in geographically isolated and disadvantaged areas such as Lake Sebu,” Villanueva added.

As Lake Sebu is a remote community,  there is a limited presence of financial institutions that can provide brick-and-mortar branches or ATM kiosks. Residents need an hour of travel and spend costly transportation of as much as P200  just to be able to withdraw financial aid given by the national government.  There are more than 13,000 4Ps/CCT beneficiaries in Lake Sebu and not all can be served by existing financial service providers in the area.

“The pilot testing conducted in the three (3) barangays of Lake Sebu, South Cotabato in partnership with RCBC has been truly successful. The 4Ps beneficiaries were able to withdraw their grants quicker and more efficiently – it only took them less than a minute receiving the money. We would like to extend our thanks to RCBC for this initiative,” says DSWD SOCCSKSARGEN  Regional Director Loreto Jr. V. Cabaya. SOCCSKSARGEN covers the provinces of South Cotabato, Cotabato, Sultan Kudarat, Sarangani and General Santos in Region 12.

Aside from RCBC ATM Go, RCBC has effectively implemented other pioneering, high-impact, human-centric, and demand driven digital financial innovations such as the one-stop-shop digital banking app RCBC Digital; RCBC DiskarTech, the Philippines’ first multi-lingual financial inclusion super app for the Filipino mass market in the vernacular Tagalog-English or Taglish and Cebuano; and RCBC Moneybela Barangayan Banking, the Philippines’ first physical-digital or phygital banking services that use sustainable e-trikes to serve geographically distant and disadvantaged and conflict areas of the country.

RCBC is one of the country’s fastest-growing banks, and the most awarded for its banking innovations.  It is now the Philippines’ 5th largest privately-owned universal bank that breached the P1-Trillion asset mark by the end of June 2022 despite the COVID-19 pandemic. RCBC’s continuing digital and business transformation further enhanced its value and reach.

With this, RCBC has become the most awarded bank in the Philippines. Among its global and local recognitions include a three-peat award as the Philippines’ Best Bank for Digital by Asiamoney, back-to-back wins for Best Financial Inclusion App by The Asian Banker’s Financial Technology Innovations Awards, and the YouTube challenger award for its viral and out-of-the-box digital ad campaigns generating combined views of over 17 million. Just recently, RCBC was also hailed as Grand Champion for Digital Payments and Financial Inclusion by the Bankers Institute of the Philippines.

 

#RCBC #LakeSebu #Philippines #rubyspreciousmoments #rubyasoyph