MAKATI – The Department of Trade and Industry (DTI) and universal bank RCBC will bring digital livelihood and virtual banking services to more than 1.3 million sari-sari stores nationwide through a Memorandum of Understanding (MOU) signed on 18 October 2019.
Under the MOU, DTI will promote RCBC’s virtual bank-tech app DiskarTech: Kasosyo sa Asenso and provide training programs for entrepreneurs. Said trainings will roll out before the end of this year in more than 1,000 DTI Negosyo Centers around the country.
DiskarTech offers digital financial services such as micro-insurance, microfinancing, bills payment, and airtime and gaming e-load. The app also enables customers to open RCBC basic deposit accounts, withdraw, deposit, and transfer money without going to a bank branch.
DTI and RCBC target enterprising Filipinos as users of the app, including sari-sari store and market vendors in over 42,000 barangays in the country.
"DiskarTech is a pioneering initiative that will level up our sari-sari stores and microenterprises with a complete suite of digital financial services that is well-aligned with the 10-point Socioeconomic Agenda of the Duterte Administration," DTI Secretary Ramon Lopez said.
"Aside from providing additional income, DiskarTech helps achieve financial inclusion by getting more Filipinos to open bank accounts and be part of the formal financial system," Sec. Lopez said.
He also noted that financial inclusion is key to achieving President Rodrigo Duterte’s vision of inclusive growth and a comfortable life for all.
"This will also address informal lenders offering exorbitant interest rates as DiskarTech provides opportunity for new-to-credit Filipinos to access efficient and affordable credit facility through self-help approach," RCBC Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva said.
Earlier, the Liga ng mga Barangay National Executive Board approved a resolution adopting DiskarTech as a national financial inclusion accelerator in all 42,000 barangays nationwide.
Signing the agreement were DTI Director Emma Asusano, DTI Secretary Ramon Lopez, RCBC Chairperson Helen Y. Dee, RCBC President and CEO Eugene S. Acevedo, and RCBC Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva.
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