Rizal Commercial Banking Corporation (RCBC) has partnered with software and IT solutions provider, Multisys Technologies Corporation, to power the country’s first financial inclusion accelerator virtual bank, DiskarTech. PLDT invested P2.15 billion in Multisys for a 45.73% interest last year.
Through DiskarTech: Kasosyo sa Asenso, RCBC will soon bring banking services and products closer to unbanked Filipinos and grassroots communities. This is in line with the commercial bank’s efforts to further promote financial inclusion in the country.
With Multisys, DiskarTech will become an all-in-one app where users can easily make payments to more than 20 government services and over 2,000 billers, transfer funds via InstaPay, and avail of social services. It will also enable banking consumers to take out loans, buy airtime load and gaming ePINS, as well as apply for insurance and cash in and cash out via respective agent partners.
“We are confident that with our collaboration with Multisys, we would be able to bring inclusive digital banking services to more Filipinos and uplift their lives,” said Lito Villanueva, RCBC Executive Vice President and Chief Innovation and Inclusion Officer.
RCBC EVP and Chief Innovation and Inclusion Officer Lito Villanueva (right) and Multisys President and CEO David Almirol, Jr., seal a partnership that will make the DiskarTech: Kasosyo sa Asenso into an all-in-one app to bring banking products and services closer to unbanked Filipinos. Looking on are PLDT Chairman and CEO Manny Pangilinan, RCBC Chairperson Helen Yuchengco-Dee and RCBC President and CEO Eugene Acevedo.
“This is a strategic engagement as it covers the most extensive features and services that RCBC developed and championed, truly the first and the best in the industry,” said David Almirol, Jr. Multisys President and CEO.
RCBC has been building a robust digital ecosystem with over 30 partnerships and collaboration across government agencies and private organizations to push DiskarTech in local communities.
Reference:
Abbey Malvar
Public Relations Department
Strategic works, Inc.
+639. 17.708.8346
abbey.malvar@stratworks.ph
2nd Floor Zaragoza Building, 102 Gamboa Street, Legaspi Village, Makati City PH
Why it is important to be healthy, wealthy & wise? Are there any measures or secrets on how to successfully achieve these three words: healthy, wealthy & wise? For a while, consider to close your eyes, relax and internalize of the things you want to achieve of you think the impossible things you want, will become a possible or reality in your life this day and beyond.
Attending a seminar or an event is necessary to gain more ideas of the speakers and coaches who have more experiences and expertise on how to be healthy, wealthy & wise in your every day living. With this, I’m glad because I was one of those who have attended and witnessed of the notable speakers and advocates of the event dubbed as “ASIA HEALTH SUMMIT 2019”.
The speakers of the ASIA Health Summit 2019 last November 14, 2019 held at Manila Marriott Hotel, Pasay City are as follows:
David Foote – Founder and CEO of Zennya. He oversees a fast growing Health and Wellness on Demand service, delivering vetted professional therapists, and nurses to customers within minutes of booking. The advocacy of Zennya is to transform healthcare to become more accessible, affordable, and consumer driven, by empowering high quality front line health workers.
Lina Liago – President of Philippines Mental Health Association. She is the Managing Director of the Guidance and Conseling Center and Philippines Women’s University and also established the Institute for Family Life and organized FamNet, a network of NGO’s working with families and communities.
Jeffrey Seitz – CEO of PHIX Genomics who set up the first circle genomics diagnostic company in the Philippines. He offers clinically validated tests through his own lab facilities and licensing agreements with established global leaders in clinical genomics.
Ed Francisco – President of BDO Capital & Investment Corporation. He is considered the nation’s most prominent investment banker and his organization, BDO Capital, is rated as the largest and most respected investment banking groups in the nation. Besides, he is a well-known advocate of health living, a marathon runner and triathlon competitor.
Henry Tenedero – President of Education for All Development Center and also the founder of the global education advocacy, “Beyond Curriculum: Lead, Teach & Learn” and heavily involved in Go Nogosyo’s Angelpreneurs and the Mentor Me Program of the Department of Trade and Industry (DTI) designed to help millions of MSME’s in the country.
https://www.instagram.com/p/B41RSMznMLY/
Avic Caparas – Associate Professor of University of Asia and the Pacific-School of Management. She is one of the most prominent researches and experts on work-family balance, manager-subordinate trust relationships, diversity and inclusion.
https://www.instagram.com/p/B41bd7fnxcK/
Jerome Sebastian – Managing Director & Co-Founder of Kitika Mobile Healthcare. He aims to improve the healthcare landscape. Kitika is a mobile-based service providing 24/7 Primary Medical Care, through the aide of Nurses, General Practitioners, and Specialist Doctors.
https://www.instagram.com/p/B41dRwxnIK_/
Reggie Pulumbarit – General Manager of 3M Service Center APAC. With broad experience as a 15 year veteran of 3M related to marketing, sales and operations for both consumer and industrial lines of business. He oversees the organization’s fast growing shared services operations that won Wellness Company of the Year at Asia CEO Awards 2019.
https://www.instagram.com/p/B41gqK4HITP/
Maurice Levine – Master Franchisee of Anytime Fitness Asia who is one of Asia’s premier advocates of fitness and healthy lifestyles. His franchise business has exploded to more than 500 fully functional centres in just 4 year and was awarded Expatriate Executive of the Year at Asia CEO Awards 2019 among many other accolades.
https://www.instagram.com/p/B41pE9AHoDM/
David Almirol – CEO of Multsys Technologies and a programmer who empowers various healthcare organizations in the public and private sectors. He is also considered one of the nation’s most important technology leaders. His company recently sold 45% of its shares to an investor for Php2.14 billion.
In relation with this article, I would like to thank Mr. Richard Mamuyac who invited me to attend the event that was held last November 14, 2019. In general, a “Balanced Life” in every day living is what I have learned in the Asia Health Summit 2019.
https://www.instagram.com/p/B41uqTsng3g/
The ASIA HEALTH SUMMIT 2019 was organized by Healthway Medical headed by Carmie Pascual De Leon and Multisys Technologies headed by David Almirol.
Aren’t you get intrigued about the mindset of millionaires this day and beyond with regards on how they acquires and manages of their richest and wealth to their families and in the community?
In fact, I’m with eager and get intrigue to witness the persons with brilliant minds of ideas related to this topic in general even only in an organized forum or event in a particular place. I was invited by Ms. Pauline Manalo of Tag Media Group headed by Engr. Grace Bondad Nicolas of the Asia Leaders Forum: Millionare’s Mindset held last Sept. 03, 2019 at Makati Shangrila Hotel.
For me, it was a right decision to attend the forum not just to listen and meet the speakers but especially to grasp the ideas, tips, lessons and techniques of the great speakers on how they started their career and businesses from their humble beginnings to their peak of success.
The Asia Leaders Forum event was started with welcome remarks headed by Engr. Grace Bondad Nicolas, President, Asia Leaders Forum and Awards and Micheal Hatchkell, Board Member, American Association of the Philippines.
Engr. Grace Bondad-Nicolas
https://www.instagram.com/p/B2Iev-mHxPH/
The Panel Discussions of the ASIA Leaders Forum was composed of the following:
The Titans: Joey Garcia, Christian Leynes and Pocholo De Leon Gonzales
The Titans: Pocholo De Leon Gonzales, Christian Leynes and Joey Garcia
2. The Taipans: Dr. Elton See Tan (Federation of Filipino Chinese Chambers and Industries); Robert Laurel Yupangco (Philippine Korean Council); Deputy Ambassador Rizany Irwan and Arch. Kaydee Velasco (VI Group of Companies)
Aside from that, Chinkee Tan also presented and shared his ideas about the “Millionaires Mindset”. He also conducted Book Signing and Photo Ops with the attendees, entrepreneurs and leaders.
Chinkee Tan
The event was indeed successful and I think the Billionaires, Titans and Taipans has encouraged the attendees to become a successful entrepreneur, too. It was a successful event attended by professionals, entrepreneurs, leaders and other business owners.
BDO Unibank, Inc. (BDO)
delivered P32.1 billion in net income
for the first nine months of the year compared to P21.5 billion a year-ago, largely driven by the expansion in the
Bank’s recurring core revenues. The 9M19 net income translates to a Return
on Common Equity (ROCE) of 12.5 per cent, compared to 9.5 per cent in 9M18.
Customer loans increased
by six (6) per cent year-on-year (yoy) to P2.1
trillion, led by the sustained growth in the middle-market and consumer segments.
Meanwhile, total deposits went up by three (3) per cent yoy to P2.4 trillion, with low-cost Current
Account/Savings Account (CASA) deposits increasing by six (6) per cent and accounting
for 72 per cent of total deposits.
Net Interest Income
(NII) increased yoy to P88.5 billion,
with net interest margins (NIMs) further improving in 3Q19.
Non-interest Income went
up yoy to P44.1 billion, led by
fee-based income and insurance premiums which accelerated by 14 per cent and 23
per cent to P25.4 billion and P10.8 billion, respectively. Trading and foreign
exchange gains in 3Q19 amounted to P690
million from P1.0 billion year-ago.
However, the trading and forex gains of P4.3
billion for the nine-month period reflects a normalized level compared to 2018,
where a more volatile environment prevailed. As such, gross operating income
rose to P132.6 billion.
Operating expenses rose
by 20 per cent to P85.8 billion given
the Bank’s continuing expansion as well as increased volume-related expenses
(e.g., taxes and licenses and policy reserves at BDO Life were up by an
aggregate 42 per cent yoy). Excluding volume-related expenses, operating
expenses would have risen by 14 per cent.
Provisions amounted to P4.2 billion as the Bank maintained its
conservative credit and provisioning policies. Gross non-performing loan (NPL)
ratio was steady at 1.2 per cent, while NPL cover remained high at 168.2 per
cent.
The Bank’s capital base increased to P364.0
billion, with Common Equity Tier 1 (CET1) and Capital Adequacy Ratio (CAR) improving
to 13.1 per cent and 14.6 per cent, and remaining comfortably above the current
regulatory minimum under the Basel III framework.
With its focused growth strategy, strong business franchise, solid balance
sheet and extensive geographic reach, the Bank remains solidly positioned to capitalize
on the country’s solid economic pace and growth opportunities in underserved
and emerging markets.
About BDO
BDO is a full-service universal bank which
provides a wide range of corporate and retail banking services. These services include traditional loan and
deposit products, as well as treasury, trust and investments, investment
banking, private banking, rural banking, cash management, leasing and finance,
remittance, insurance, retail cash cards, credit card services and stock
brokerage services.
BDO has one of the largest distribution networks, with more than 1,300 operating branches and over 4,400 ATMs nationwide. It also has full-service branches in Hong Kong and Singapore as well as 21 overseas remittance and representative offices in Asia, Europe, North America and the Middle East.
BDO ranked as the largest bank in terms of total assets, loans, deposits and trust funds under management based on published statements of condition as of June 30, 2019. For more information, please visit www.bdo.com.ph.
Rizal Commercial Banking Corporation (RCBC) has taken the first steps to bringing its digital financial inclusion initiative to grassroots communities as it gets the support and commitment of Liga ng mga Barangay sa Pilipinas (LNB).
The LNB led by National President Eden Pineda, presented its national executive board resolution stating that the organization is adopting DiskarTech: Kasosyo sa Asenso as a growth enabler and capacity-building measure for microenterprises in every barangay and its constituents. DiskarTech is a financial inclusion accelerator platform by RCBC that aims to stimulate economic activity to help uplift the unbanked and underserved Filipinos.
The strategic collaboration will focus on accelerating financial literacy, promoting inclusive digital economy, and empowering local communities. This supports the government digitalization efforts aligned with President Duterte’s 10-point economic agenda on investing on human capital development, and promoting technology and innovation for self-sustaining and inclusive development towards poverty alleviation.
LNB is the official organization of over 42,000 barangays throughout the country. It is committed to providing avenues and assistance to promote welfare and ensure success of the national government’s National Strategy for Financial Inclusion and National Retail Payments System.
“This financial inclusion accelerator will be pervasive throughout the country as it would address the huge gaps in financial services while reducing the number of unbanked and underserved communities,” said RCBC Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva.
By adopting DiskarTech, LNB will be taking an active role in leading workshops and programs on financial education and literacy with the assistance of the DiskarTech National Coordinating Team. They will also be engaging its member municipalities to appoint their own DiskarTech Community Leader (DCL) who will facilitate participation of residents and entrepreneurs in the program.
“DiskarTech will pave the way for the real transformation of our communities nationwide as it would provide opportunities to our constituents, giving them the chance to be part of the formal financial system through technology,” said Liga ng mga Barangay National President Eden Pineda.
In an effort to encourage economic activity, partner sari-sari stores or microenterprises will also be identified as Barangay Digital Community Centers (BDCCs) to serve as the go-to hub of every resident for their financial needs – whether it’s paying bills, depositing savings to their accounts, buying micro insurance or sending money to their loved ones.
With this, RCBC hopes to turbocharge the growth of digital financial transactions in the country from the current one percent to a minimum of twenty percent by next year. Through DiskarTech, this initiaitve hopes to bring to realization the vision of Bangko Sentral ng Pilipinas of creating a cash-lite and digital economy for greater efficiency, security, interoperability, and affordability.
Joining LNB and 20 other existing partners, a number of private organizations have also signed up recently to join the DiskarTech financial inclusion ecosystem to benefit their respective constituents. These partners include Ka-Entrep Micro and Small Entrepreneurs Organization of the Philippines, Bangko Pangasinan, and Rizal Microbank, among others.
Rural bank Bangko Pangasinan and thrift bank Rizal Microbank also share how DiskarTech would empower the agriculture sector with access to basic financial needs and microfinance loans.
“DiskarTech is an open platform and the way it works is that banks like us can communicate with other banks. Similar to an open banking system, there will be no barriers and it will become interoperable to make it easier to reach and assist the underserved market,” said Gregory De Guzman, Bangko Pangasinan president and COO.
DISKARTECH AS A NATIONAL FINANCIAL INCLUSION ACCELERATOR PROGRAM. The Liga ng mga Barangay, led by its National President Eden Pineda, recently presented its National Executive Board Resolution to RCBC Chairperson Helen Yuchengco Dee. Also in photo are (from left) RCBC Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva and RCBC President and CEO Eugene S. Acevedo, Chairman James Marty Lim, and Executive Director Jel R. Jiongco. The strategic collaboration will focus on accelerating financial literacy, promoting inclusive digital economy, and empowering local communities. This supports the government digitalization efforts aligned with President Duterte’s 10-point economic agenda on investing on human capital development, and promoting technology and innovation for self-sustaining and inclusive development towards poverty alleviation. This will cover all 42,000 barangays nationwide.
Joseph Lumain, Strategic Partnerships and Special Initiatives head at Rizal Microbank, agrees that DiskarTech will be an effective way to reach numerous individuals at the same time. “Basically, what DiskarTech is offering are the basic services of a bank through digital means. And in an era where almost everyone is tech-savvy, DiskarTech can be the perfect solution to present financial services in an understandable way, and eventually helping answer the issue of financial inclusion.”
BDO Unibank, Inc. was named a “worthy captain” of the Philippine banking industry after receiving the prestigious Industry Champion of the Year award during the 2019 Asia Corporate Excellence & Sustainability (ACES) Awards.
The Industry Champion of the Year is presented to companies that “have a distinct competitive edge, set the industry trends, and have commendable best practices in place. Winners in this category have shown the ability to evolve the focus of their enterprises along with the dynamic changes of the industries they serve.”
A milestone 1st ACES Award for the multi-awarded bank, BDO was also recognized for its leadership position across different business segments, robust balance sheet, expansive market reach, scope of innovative products and services, and sustainable growth.
The ACES Awards is organized annually by the MORS Group, an organization committed to assisting companies, corporate leaders, and eminent industrialists share a platform to exhibit leadership and sustainability excellence.
Innovation and Reach
Driven by its “We Find Ways” philosophy, BDO leverages its intrinsic understanding of the Filipino to keep innovating its wide range of products and services. This allows the bank to meet its clients’ ever-changing needs.
BDO has the largest distribution network with more than 1,300 branches and over 4,000 ATMs nationwide. To serve those who are unavailable during regular banking hours, it pioneered the implementation of longer banking hours and weekend banking.
Outside the Philippines, the bank has full-service branches in Hong Kong and Singapore as well as 23 remittance and representative offices in Asia, Europe, North America, and the Middle East.
Easy Access and Sustainability
BDO embraces financial technologies to stay within its clients’ reach. It enables easy and 24/7 access to bank accounts and payments through its online and mobile banking channels. A financial inclusion advocate, it partners with local micro-entrepreneurs who are based in remote areas and provides a point-of-sale (POS) terminal that allows cash withdrawals using an ATM card.
The bank also integrates sustainability into its undertakings. In 2017, the bank made history when it issued a $150-million green bond—a first-of-its-kind in the Philippines. The International Finance Corp. (IFC), the private sector arm of the World Bank, was the sole investor in the bond. More recently, BDO hosted the country’s first Global Reporting Initiative (GRI) Sustainability Summit in 2018, which gathered the captains of Philippine businesses to discuss how sustainability can be interwoven with their corporate agenda. The bank also published the maiden issue of its sustainability report.
Captain of the Philippine Banking Industry. BDO was given the Industry Champion of the Year award during the 2019 Asia Corporate Excellence & Sustainability (ACES) Awards. Representing the bank was Luis Reyes Jr. (center), Executive Vice President and Head of Investor Relations and Corporate Planning Group. Reyes received the award from (left to right) Luis Bueno Nieto, Jury of ACES Awards; Shanggari Balakrishnan, CEO of MORS Group; Jayanthi Desan, Jury of ACES Awards; and Hemant Batra, Chairman of ACES Awards.
These strategic efforts propelled the bank to achieve a record year-end income of P32.7 billion and become the first Philippine bank to surpass the P3 trillion mark in total assets at the end of 2018. This year, the bank sustained its growth momentum by posting its half-year earnings of P20.2 billion, and remaining the largest bank in terms of total assets, loans, deposits, and trust funds as of the second quarter.
About BDO Unibank, Inc.
BDO is a full-service universal bank which provides a wide range of corporate and retail banking services. These services include traditional loan and deposit products, as well as treasury, trust banking, investment banking, private banking, rural banking, cash management, leasing and finance, remittance, insurance, retail cash cards, credit card services, and stock brokerage services.
BDO has one of the largest distribution networks, with more than 1,300 operating branches and over 4,000 ATMs nationwide. It also has a full-service branches in Hong Kong and Singapore as well as 23 overseas remittance and representative offices in Asia, Europe, North America, and the Middle East.
BDO ranked as the largest bank in terms of total assets, loans, deposits, and trust funds under management based on published statements of condition as of March 31, 2019. For more information, please visit www.bdo.com.ph.
Digital payments leader to hire 1,000 more employees by the end of 2020
Senior Director and Philippine Site Lead John Nicholls delivers the welcome remarks, focusing on the company’s goals and thanking the leadership team for gracing the event.
On the heels of announcing its office opening earlier this year, PayPal, a global leader in online payment solutions, officially inaugurated its operations site today in Alabang, Metro Manila – the company’s largest and first consolidated operations site in the country.
PayPal has now hired over 700 people for this new office, with the intention of enlisting 1,000 more employees by the end of 2020. The company will look to fill key roles in customer support, voice and non-voice processes, and risk management to cater to English-speaking customers worldwide. Initially, the company aimed for 1,000 hires through 2021, but with growing needs for key business functions and a large pool of available local talent, this target has since been increased.
The company’s decision to setup its global operations center in Alabang reinforces the country’s reputation as a hotbed for talent. “Filipinos are renowned not only for their outstanding command of the English language, but also for their customer service expertise, as well as their resourcefulness, hard work, and openness to new experiences. At PayPal, we embrace passion and diversity as part of our culture, and Filipino talents make for the perfect fit when it comes to the values we strive for as a global company,” said John Nicholls, the Country Lead and Senior Director of PayPal Global Customer Services.
With more than 286 million active PayPal account holders, and availability in over 200 markets, supporting customers around the world will be no easy task. All prospective employees in this new site can expect to receive robust product and cultural training that will equip them with the necessary knowledge and skills to better understand PayPal customers, as well as the intricacies of the many international markets they will serve.
An office designed for millennials
In 2020, it is estimated that at least half of the global workforce will come from the millennial generation, those who are now in their 20s and 30s. In the Philippines, millennials make up a significant part of the country’s total population and its labor force—with 1/2 of the total population aged 15-34, making up 43.9 percent of the labor force. This means that millennials will play a pivotal role in building a future for organizations, both foreign and local.
As an organization, PayPal champions innovation, collaboration, inclusion, and wellness—which are themes that resonate with Filipinos, particularly millennials. This is in full display at the company’s office in Alabang.
Apart from rest areas, a karaoke room, and a games area, the new office sports a modern cafeteria serving organic food that easily converts into a function zone complete with built-in LED screens and state-of-the-art sound system for events. To encourage teamwork and connectivity among employees, the spacious site also features open collaboration zones and WiFi on all floors.
“Our facilities are meant to embody PayPal’s work-culture philosophy which prizes innovation, collaboration, inclusion, and wellness. By nurturing these values in our office spaces, we provide our teams with the very best in coaching, mentorship and leadership, so they grow personally and professionally in their careers,” Nicholls explained.
Senior Director and Philippine Site Lead John Nicholls delivers the welcome remarks, focusing on the company’s goals and thanking the leadership team for gracing the event.
As PayPal pursues its vision of democratizing financial services, it is looking to recruit more talent for a wide range of customer support roles. To find out more about these opportunities, visit www.paypal.com/jobs.
About PayPal
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering more than 286 million consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.
Imagine being able to secure loans with some of the lowest interest rates in the banking industry. Or conveniently transferring funds from one bank account to another, or perhaps, experiencing the best possible customer banking service around.
To get all these and other “perks”, most financial institutions would require one to become their preferred client. But in today’s digital technology and in the global banking industry, getting access to all these benefits is simply a matter of banking customers securely sharing their data with other financial institutions. This is the beauty of open banking.
Open banking enables financial services customers such as companies, entrepreneurs and ordinary depositors and borrowers, to have access to various products and services from competing banks and other financial institutions by allowing the latter to digitally and securely access their financial information. Customers can compare product offerings and avail of the best ones that suit their needs and fit their capabilities, thereby helping them earn more from bigger savings interest rates, avail of loans more easily, and pay more conveniently, towards managing and improving their finances.
With the concept of open banking, financial institutions such as banks—big and small—fintech companies, and other players, can share their respective clients’ data through the use of application programming interfaces (APIs). These APIs enable customers or the data subjects to share only data pertinent to the product or service they are looking to avail and not the account credentials.
The European Union (EU) initiated PSD2 (Revised Payment Service Directive) as an emerging Open Banking standard. This is a game-changer in the industry as banks’ monopoly on their customer account details will soon disappear. This required European banks to provide Open APIs which does not need additional customized developments. It reduces barriers to innovation and limits the big banks’ “walled gardens.” In fact, even the Philippines’ data privacy law was influenced by EU’s stringent data protection regulation, including the adoption of the General Data Protection Regulation (GDPR).
Open banking can enable banks and other financial institutions to have access to data that will enable them to process loan applications quicker or better advise their clients on their finances. This encourages banks to be more competitive, leading to more affordable products, faster services, better customer relations, and investing in digital technologies, to the benefit of customers.
This is what Rizal Commercial Banking Corporation (RCBC) hopes to spearhead in the industry as it recently became the first local bank to advocate and implement open banking, affirming its position as a digital trailblazer in the financial industry.
But more than encouraging competition among banks, RCBC aims to lead the way to open banking in the country to become the Filipinos’ prime financial inclusion partner.
“With open banking, we can power the transactions of rural banks, cooperatives, micro-financial institutions and other small players, giving their customers access to a wide array of financial services using RCBC Open APIs,” said Lito Villanueva, RCBC Chief Innovation and Inclusion Officer.
Already, RCBC has beefed up its open banking capabilities by establishing API partnerships with leading fintech companies; local payment networks PESONet and Instapay; and IBM Blockchain World Wire remittance.
Through open banking, RCBC aims to serve the global financial services needs of more than 30 million customers of fintechs, rural banks, cooperatives, and micro-financial institutions all over the country.
