Rizal Commercial Banking Corp. (RCBC) has positioned itself as a prominent player in the Philippine banking sector, with its consumer finance app, DiskarTech, recently achieving an impressive milestone of over five million downloads.
The DiskarTech app boasts the utilization of approximately 50 in-house artificial intelligence models, developed by RCBC for tasks such as credit checks and fraud detection.
In a recent interview with Nikkei, RCBC President and CEO Eugene S. Acevedo underscored the bank’s commitment to digital innovation, stating, “I think we are the leading bank in artificial intelligence. That is why much of our decisions are made or are based on AI and data science. We don’t guess. There’s enough data that we can model that allows us to do all these things.”
The strategic involvement of the Japanese megabank Sumitomo Mitsui Financial Group (SMFG) in RCBC in 2021 is anticipated to play a pivotal role in enhancing RCBC’s digital offerings.
Leveraging SMFG’s expertise, particularly in credit payments and other financial services, is part of RCBC’s strategic plan.