RCBC envisions integrated platform to simplify SME loan processing
RIZAL COMMERCIAL Banking Corp. (RCBC) seeks to create an end-to-end platform that will simplify loan processing for small and medium enterprises (SMEs).
This platform will include features such as online application, loan processing and account management, where customers will be able to pay loans and benefit from the bank’s products and solutions, he said on Monday in a statement. communicated.
In 2019, RCBC used data analytics and cloud-based technology to simplify the processing of its loans. These initiatives have enabled the bank to offer personalized solutions and faster loan disbursement for its corporate clients.
âOne of the biggest challenges for SMEs is access to Fifunding. Being able to reduce turnaround time will help them signiFiCantly, âRCBC First Senior Vice-President and SME Group Head Ma. Said Angela V. Tinio.
RCBC said its manual end-to-end process has so far been simplified by 50%. Meanwhile, its automatic credit investigation turnaround time has been reduced to four hours due to the integrated system between the bank’s sales cloud and third-party offices. Thanks to the streamlining of the credit check process, the turnaround time has been reduced to eight days.
In addition to boosting technology, Tinio said they have also provided training for their relationship managers to better perform their duties with their clients remotely.
President and CEO of RCBC OffiCer Eugene S. Acevedo said the bank is looking to expand its digital presence and move away from traditional banking transactions as more and more customers increasingly prefer to do them online.
The Yuchengco-led bank’s net income fell 31.55% to 1.58 billion pesos in the first quarter, from 2.308 billion pesos a year earlier due to trade losses and weaker currency gains.
RCBC shares closed at P21 each on Monday, down P1.20 or 5.41% from Friday Fiend. – LWTN