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The Rizal Commercial Banking Corporation (RCBC) was established in 1960 as a development bank and is licensed by the Bangko Sentral ng Pilipinas (BSP) for both commercial and investment banking. It is one of the largest universal banks in the Philippines with total consolidated resources of Php 516.1billion as of end-2015. As a diversified financial services institution, RCBC serves corporate and individual banking needs through the most appropriate vehicles to serve its chosen markets with innovative products and services. With an inclusive financial business model in mind, in 2009 it ventured into the microfinance business to service the smallest entrepreneurs via the Rizal Microbank.
RCBC is majority-owned by the Yuchengco Group of Companies (YGC), one of the oldest and largest conglomerates in Southeast Asia covering over 60 businesses which include the leading non-life insurance company, Malayan Insurance, a life insurance company joint venture with Sun Life Financials, Philippines, Sunlife/GREPA Financials; the leading globally-oriented construction company EEI Corp.; top educational institutions; and vehicle dealerships. Other significant investors of the bank include the World Bank's International Finance Corporation and Cathay Life Insurance Co., Ltd., a wholly owned subsidiary of Cathay Financial Holding., Ltd., the largest publicly-listed holding company in Taiwan.
Responding to an ever-growing digital consumer base, RCBC continually innovates its products and services to match the dynamic consumer needs in the digital space. Providing ease and convenience, in 2007, it launched the RCBC MyWallet. This all-in-one card allows customers to enjoy electronic banking convenience anytime, anywhere and it lets customers do transactions like a regular ATM card: withdrawals, cashless shopping, balance inquiry and bills payment-all these, without the hassles of keeping a monthly maintaining balance. To further supplement its electronic banking capability, RCBC launched AccessOne soon after, as a personal internet banking system. AccessOne allows customers to have a better online banking experience with its features such as enhanced and customizable user interface, real-time presentation of Bankard credit card transaction history, prepaid mobile loading and viewing of investments and RCBC Savings bank loans. This is also available as a mobile application.
Aside from this, together with RCBC Savings Bank, RCBC launched the Touch Q Lobby Management System in 2014. The RCBC Touch Q is a self-service teller assist kiosk in the branch that conveniently pre-stages customers' banking transactions. It provides assistance to customers in financial and non-financial transactions like cash and check deposits, cash withdrawal, check encashment, bills payment, fund transfer, MyWallet reloading, account opening among many others. The system manages the traffic inside a branch through a smart queuing system. Customers can access the RCBC Touch Q on the web and through mobile apps (both Apple and Android) even before going to the branch. Upon completion of the online transactions, a QR code or reference number will be generated which customers can use for queue prioritization in the branch.
RCBC is also committed to uplifting its customers' lives through various community enhancement projects, corporate social responsibility programs, and social empowerment ventures. These include the Earth Care-tree planting drive, Green ATM project in partnership with ABS-CBN, goat-livelihood donation program, micro financing services, among many others.
A pioneering financial services organization, RCBC has received numerous awards from various institutions including "Best Banking Group in the Philippines, "SME Bank of the Year", "Overall Best Private Bank in the Philippines", Domestic Retail Bank of the Year; and "Philippines' Overall Best for Interest Rates, and Best Cash Management Bank in the Philippines.