Universal bank Rizal Commercial Banking Corp., or RCBC, is gearing up for a major digital offensive in 2024, promising a wave of innovative products and services set to launch in the first half.

The bank, already a frontrunner in the Philippine digital banking landscape, aims to further empower customers and solidify its position as a leading tech-driven financial institution.

“Our battlecry is to go for more,” declared Lito Villanueva, RCBC’s chief innovation and inclusion officer, at the 2024 Bangko Sentral ng Pilipinas Annual Reception for the Banking Community.

He unveiled a glimpse of RCBC’s bold vision, hinting at exciting features soon to be integrated into the bank’s flagship mobile app, RCBC Pulz.

While official launch dates remain under wraps, Villanueva shed light on some revolutionary enhancements coming to RCBC Pulz. The app, currently catering to the mass affluent and existing RCBC clientele, is transforming into an “ultra-digital” platform designed to redefine convenience and accessibility.

The app is expected to include features like real-time loan approvals that will be potentially available for new customers as early as March 2024, QR-based transactions making deposits and withdrawals effortless; access to Unit Investment Trust Funds and the ability to trade up to six foreign currencies directly within the app; seamless loading of popular gaming platforms; flexible financing: converting purchases into convenient installments; built-in educational materials to make informed financial decisions; and virtual assets and blockchain.

RCBC isn’t just refining existing offerings but boldly venturing into the frontiers of fintech. Villanueva confirmed the bank’s exploration of virtual assets and blockchain technology. However, recognizing investor concerns, he emphasized RCBC’s focus on stable and regulated forms of virtual assets.

AI-powered service

Understanding the growing demand for personalized and efficient banking experiences, RCBC is equipping its staff with the tools of the future. Villanueva announced a mandatory AI certification program for RCBC employees, ensuring they possess the skills to leverage artificial intelligence in delivering exceptional customer service.

With Filipinos rapidly embracing digital platforms, RCBC anticipates a surge in demand for digital loans. “We’ve witnessed exponential growth in digital platform adoption, exceeding double digits, and the trajectory shows no signs of slowing down,” stated Villanueva.

To cater to this rising demand, RCBC is optimizing its app to cater to the specific needs of micro, small and medium enterprises, or MSMEs. The bank also recognizes the importance of financial literacy, particularly in the context of digital loans. Villanueva reiterated RCBC’s commitment to educating both individual consumers and MSMEs on maximizing the benefits of digital loans while practicing responsible cybersecurity.