RCBC introduces banking innovations

The Rizal Commercial Banking Corp. (RCBC) is introducing a new way for corporations to do their financial management – through RCBC Enterprise Banking.

RCBC Enterprise Banking is a comprehensive suite of financial and value-added products and services designed to meet the financial needs of the bank’s corporate clients.

It encompasses the products and services RCBC offers to its corporate clients, from savings accounts and other investment instruments, to payroll services and Letters of Credit, as well as the channels by which corporate customers can access these products and other services.

The main delivery channel for RCBC Enterprise Banking is the Internet. Through this facility, RCBC’s corporate clients will be able to manage their cash flow more efficiently, and streamline many of their regular financial operations.

"We are proud that RCBC Enterprise Banking’s Internet facility is among the most comprehensive in the country today." Rogelio S. Chua, RCBC Group Marketing head, said. "This is because when we were developing RCBC Enterprise Banking, we held regular consultations with some of our clients to ensure that we put in the right services and procedures that they actually need and want to use."

Among the services that can currently be availed of through RCBC Enterprise Banking’s Internet facility are Account Inquiry, Transaction History, Fund Transfers, Checkbook Reorders, Stop Payment Order, Supplier Payment, Payroll, and a host of other services.

Clients can also view the bank’s latest foreign exchange (forex) and deposit rates from the rates inquiry pages, and get the latest financial advisory from RCBC through the market analysis page. Plus, there is a built-in e-mail facility to make communication with clients even easier and more convenient. Even more services will continuously be added to RCBC Enterprise Banking as companies’ business needs grow.

"We also prioritized security, since during our consultations, clients emphasized that they need to be assured that their Internet transactions are confidential and protected from fraudulent entries. So what we did is incorporate five levels of security measures into our Internet banking facility, thus making it more intense than what competition offers," added Chua.

These security measures include: 1) certification from VeriSign, the worldwide leader in Enterprise Trust Services; 2) firewalls and intrusion detection softwares; 3) 128-bit Secure Socket Layer (SSL) data encryption, again more comprehensive than the usual 40-bit SSL employed by other banks; 4) personalized User Ids and Passwords for all the company’s officially designated users; and finally 5) a built-in automated Approval Workflow system that ensures that all transactions go through authorized users in a company first before it is effected.

In addition to all this, RCBC Enterprise Banking’s internet facility is linked to the BancNet EDI-SSSNet system. Through the BancNet EDI-SSSNet system, clients can electronically transfer files and pay the monthly SSS contributions.

Simultaneous with the development of the internet banking facility, RCBC also worked on improving the bank’s network infrastructure to ensure fast and efficient internet connection.

"We installed new hardware and cables in RCBC Plaza, and had the Enterprise Banking site hosted in one of the fastest and most reliable servers in the country. Also, all our business centers are on-line, ensuring faster communication among our entire banking network," said Lorna Evidente, head of RCBC’s IT Group.

For more information about RCBC Enterprise Banking, you may visit www.rcbc.com or e-mail [email protected]. You may also contact RCBC’s account officers and business center managers.