RCBC enhancing virtual banking

The Rizal Commercial Banking Corp. (RCBC) has acquired a state-of-the-art system from Infosys, a world leader in the design and delivery of technology-driven business solutions, that will allow it to offer one of the most thorough and secure Internet banking solutions available.

“The new system will let us run a virtual branch on the net. While most other local banks provide customers Internet access for their basic banking transactions such as deposit inquiries, fund transfers and even bills payment, our new system, called RCBC AccessOne, will allow RCBC to offer services way beyond these basics,” Lorenzo V. Tan, RCBC president and chief executive officer, said.

RCBC AccessOne expands the bank’s Internet offerings to include: check float verification; email and text alerts for payment advise and future-dated transactions/bills payment; three-month account history and even time deposit balance verifications. 

For convenience, RCBC’s ATM customers may enroll in RCBC AccessOne without having to physically go to a branch.

RCBC AccessOne is just one of several new services the next of which is expected to happen before the end of 2008.

“Our Internet banking portal will simulate a real branch that can process and provide information on our customers’ other accounts and transactions. We will try to make their Internet banking experience approximate how it is like to do transactions face-to-face with our over-the-counter personnel without the hassle of having to go to the branch,” RCBC executive vice president Dennis Bancod said. “Internet banking with RCBC, among other things, will soon allow customers to inquire about their remittances and credit card balances; make inquiries on their retail loan accounts; and even load their MyWallet Cash Cards. RCBC AcessOne will also have some investment banking features.”

RCBC’s new system operates on a framework similar to India’s ICICI, a bank which aggressively grew its customer base from 400,000 to 28 million through electronic banking channels.

RCBC is the country’s fourth largest private universal bank in terms of capital base. The bank is a member of the Yuchengco Group of Companies.