RCBC is majority-owned by the Yuchengco Group of Companies, one of the largest conglomerates in Southeast Asia. It is among the largest private domestic banks in the Philippines in terms of assets.
In 2019, RCBC tapped data analytics and cloud-based technology to simplify its loan processing. These initiatives have enabled the bank to offer customized solutions and faster credit disbursement for their business clients.
RCBC is looking to create an end-to-end platform that will simplify loan processing for small- and medium-sized enterprises (SMEs). This platform will include features such as online application, loans processing, and account management, where clients can pay loans and avail of products and solutions from the bank, it said in a statement on Monday.
“One of the biggest challenges for SMEs is access to financing. Being able to lessen the turnaround time will help them significantly,” RCBC First Senior Vice-President and SME Group Head Ma. Angela V. Tinio said. Aside from boosting technology, Ms. Tinio said they have also provided training to their relationship managers to better attend to their duties to their clients remotely. RCBC President and Chief Executive Officer Eugene S. Acevedo has said the bank is looking to expand its digital presence and veer away from traditional bank transactions as more clients are increasingly preferring doing these online.
Read the full press release here>