RCBC celebrated Bacolod’s MassKara Festival through its financial inclusion and education roadshow on October 16 to 23. Alongside the festivities, RCBC promoted their digital solutions to Bacolodnons such as the Philippines’ first Taglish and Cebuano financial inclusion app RCBC DiskarTech and the first neighborhood ATM, RCBC ATM Go.
During the festival, RCBC launched the Philippines’ first human-assisted remote banking service Moneybela: Barangayan Banking in the Visayas starting in Bacolod City with Mayor Albee Benitez and other key local government officials. This is another RCBC’s pioneering initiative enabling physical-digital or phygital blended banking experience for the unbanked and underserved Filipinos at the grassroots in geographically isolated and disadvantaged areas.
Aside from going around various communities nationwide, the Moneybela electric tricycles will also provide financial literacy and agent banking services in public transport terminals, public markets, schools, barangay halls, and health centers to make it accessible to as many Filipinos as possible.
Lito Villanueva, RCBC executive vice president and chief innovation and inclusion officer, said the launch of Moneybela in Bacolod is part of RCBC’s mission to bring smiles to every Filipino by making banking accessible. “Many Bacolodnons have chosen RCBC as their long-term partner to achieve their goals. Those in hard-to-reach barangays will have the opportunity to open and manage their accounts online through MoneyBela,” Villanueva added in the press release.
Bacolod Mayor Benitez also personally tried RCBC’s ATM Go, which is dubbed as the Philippines’ first kapitbahay ATM that uses mobile-point-of-sales devices to facilitate bank transactions such as withdrawals, bills payment, buy load, deposits, fund transfers, and many more. The remote device allows customers to transact at the nearest establishment in their community through micro retailers like sari-sari stores, drug stores, cooperatives, and rural banks, among others.
RCBC ATM Go has the most extensive reach covering all 82 provinces in the country with more than 1,500 terminals. It is RCBC’s bank-agnostic business-to-business last mile digital financial service through partner micro, small, and medium enterprises meant to cater to geographically isolated and disadvantaged areas. Approximately 60 percent of its transactions are cash card withdrawals done by 4Ps Pantawid conditional cash transfer household beneficiaries. On average, ATM Go’s monthly transaction is now close to P1 billion or about P12 billion annually.
The Bacolod mayor lauded RCBC’s innovation saying that it will be beneficial, especially for those who are far from bank machines. “RCBC presented to me their latest innovation, ATM: Automated Tao Machine, which can cater to withdrawal transactions using the swiping device you normally see when paying bills at the supermarket. I personally tried this device, it is helpful and accessible for cardholders who are far from any bank machines,” Benitez said.
Bacolod councilors Jason Villarosa, Kalaw Puentevella, and Al Espino also attended the event. “We are truly honored for RCBC in bringing here the Moneybela program here in Bacolod City. This is a great blessing,” Villarosa said.*
