RCBC harnesses technology for digital natives

Today’s young generation of digital natives has been using their smartphones and internet-enabled devices not only to access information, but to explore what technology can offer, especially when it comes to managing their finances and growing wealth.

Driven by this behavior, younger and tech-savvy consumers tend to switch accounts with different banks more often. In the 2019 Consumer Digital Banking Survey conducted by PricewaterhouseCoopers (PwC), 21% of respondents had planned to open a new deposit account that year, including 46% of Gen Zers and 26% of millennials.  Survey data also indicates that younger consumers are more likely to open an account based on experiential factors, and not necessarily interest rates.

Millennials poised to drive the Philippine home loan market ⁠—Nook

Millennials emerged as the fastest-growing generation to contribute to the growth of the home loan landscape in the country, according to PH’s first online mortgage brokering platform, Nook. As the platform disrupts the home loan process in the Philippines, millennials are seen to lead the industry as they express keen interest to invest in real estate properties.

The millennials or Generation Y are often lumped into somewhat narrow categories of traits and characteristics and are stigmatized for being self-absorbed and narcissistic according to a research article by Grubbs et al in 2019. While millennials are seen to prioritize other leisure activities, data shows that millennials, in fact, are generally good financial planners. Based on an article by Forbes in 2019, millennials are taking advantage of finding new alternative investments and securing stability to settle down for their future. The millennial generation is both captive to and captivated by growing their money over time, investing in various social and environmental causes. 

How to set work-from-home employees for success

Working from home has turned from a simple working option for some to a necessity for most as a result of the ongoing coronavirus pandemic and government-mandated quarantine. To help companies with this setup, Paul Rivera, ex-Googler, Kalibrr CEO and Co-founder recommends these easy-to-implement tips to ensure employee well-being, accountability, and productivity as they work remotely.

Access to tools and technology

Everyone should have access to the same set of tools - in our case, laptops, company email addresses, phones/SIM cards for our sales team, access to cloud storage (Google Drive / Dropbox), access to the company-wide project management tool like Trello, and in some cases, subsidized access to the internet.

Align on what communication channels to use

Communication is a critical piece to make sure that working remotely goes as smoothly as possible. Are you going to use Skype, Slack Viber, or Telegram? Whatever you choose, make sure that you clearly and deliberately assign specific channels that you’ll be using to talk to your employees.

Providing access to the gatekeepers of the family’s finance: GCash empowers Filipino women to be included in the financial landscape

For Filipinos, mothers are considered to be their light of the homes. They provide direction, clarity in difficult situations, and they manage the everyday lives of the Filipino family.

Women also play as the gatekeepers of the finances of Filipino homes. Typical in the Philippines, the husbands give their salaries to the wives, who then distributes the total household earnings to the daily needs and occasional wants of each member of the family.

Given this, it comes at no surprise that women are much more included in the local financial landscape, according to data from the Bangko Sentral ng Pilipinas (BSP). Based on the latest central bank survey on financial inclusion, 38.9 percent of women in the Philippines have formal bank accounts, while only 30 percent of adult men hold savings accounts.

Providing access to the gatekeepers of the family’s finance: GCash empowers Filipino women to be included in the financial landscape

For Filipinos, mothers are considered to be their light of the homes. They provide direction, clarity in difficult situations, and they manage the everyday lives of the Filipino family.

Women also play as the gatekeepers of the finances of Filipino homes. Typical in the Philippines, the husbands give their salaries to the wives, who then distributes the total household earnings to the daily needs and occasional wants of each member of the family.

Given this, it comes at no surprise that women are much more included in the local financial landscape, according to data from the Bangko Sentral ng Pilipinas (BSP). Based on the latest central bank survey on financial inclusion, 38.9 percent of women in the Philippines have formal bank accounts, while only 30 percent of adult men hold savings accounts.

QR enables payment convenience

In today’s digital age, young consumers are steadily adopting the use of QR codes in banking transactions and as a payment option for the simplicity and convenience they offer.

Compared to using debit or credit cards, using QR codes to pay for products and services is faster, more secure and hassle-free. One simply needs to scan the code using a smart phone to initiate the payment transaction. Its faster and easier compared to taking out one’s card from the wallet, swiping it at the counter, and signing the charge slip.

Now, RCBC clients can experience the same level of convenience and security when they use the bank’s enhanced mobile banking app for cashless, fast and hassle-free bills payments and fund transfers by allowing users to enroll billers and beneficiaries and schedule recurring payments and transfers directly in the app.