Digital Banking Transactions Continue Surge In Philippines as Quarantine Enters Week 3

From the first three days of the enhanced community quarantine (ECQ), new enrolments in RCBC Online Banking continued to rise. The bank registered last Thursday, March 26, a new high of new enrolments in one day. The daily average of new signups post-ECQ, from March 17 to March 26, grew by 117 percent from the daily average pre-ECQ in the same month. Significant dips in signups are noted during the weekends.
For transactions, the most growth was observed in the Cardless ATM Withdrawal function. A 633-percent increase in count and a 416-percent increase in throughput was recorded between pre- and post-ECQ figures in March.
Send Cash transactions more than doubled in the same period. A 144-percent increase in count and a 44-percent increase in throughput was recorded between pre- and post- ECQ figures in March. Send Cash is a service available in RCBC Online Banking where clients can remit money to unbanked loved ones. The amount can then be withdrawn from any RCBC branch or ATM nationwide.
Lito Villanueva
“All these are geared towards enabling and empowering more Filipinos to leverage on digital technology as the bank readies new products that will address their needs during these challenging and extraordinary times,”

Read more:  Fintechnews Philippines