Robinsons Bank (RBank), owned by JG Summit Holdings, Inc., one of the Philippines’ largest and most diversified conglomerates, today announced that it has chosen global payments processing firm BPC as its solution partner to co-innovate, drive financial inclusion and accelerate digital adoption across the nation. Using BPC’s SmartVista Platform, RBank will be able to bring new products to customers in a highly efficient and cost-effective manner.
RBank started as a savings bank in 1997 and became the 18th largest financial institution in the Philippines in 2018. It was recognised for three consecutive years as one of the nation’s fastest-growing commercial banks and won “Most Innovative Digital Banking Services – PH 2021” in The Global Economics Awards and The Global Business Review Magazine Awards.
Operating under a “Look Forward “ approach to servicing and growing their customer base, the bank decided to replace its legacy systems with SmartVista by BPC, the world’s most innovative and technologically advanced payment solution. The technology will be used to launch the bank’s new Credit Card issuance solution and support its new virtual card.
BPC was selected based on its experience serving some of the world’s largest and most forward-looking financial institutions and fintechs globally. The company was also singled out as a result of its local presence. BPC first entered the Philippines in 2004, and has built a strong reputation for quality customer service, expert regional knowledge and world-class innovation.
Commenting on the partnership, Maire Karabel D. Dadufalza, Head of Cards at RBank, said: “We are operating in a highly competitive market and need to bring new products to customers quickly and effectively. With a dynamic and constantly changing innovation roadmap, we are thrilled to be working with an agile technology partner that supports our enthusiasm for growth and new product development. Together with BPC, we are excited to elevate our customers’ banking experiences in a seamless and modern way.”
Eugene Gutierrez, SVP – Country Director Philippines, BPC, said: “This is the start of a groundbreaking collaboration. We do not see a vendor and client relationship but rather a partnership to co-innovate and drive digital financial inclusion across the Philippines. We are looking forward to providing RBank with the best payment technology to spur innovation and accelerate their roll out of new services. This mission will be supported by our local presence which enables deep insight and understanding of how Filipinos bank, pay, and get paid.”
For over 25 years, BPC has been at the forefront of the digital revolution, serving over 350 financial institutions in over 100 countries with state-of-the-art banking and payment solutions. Their SmartVista Platform offers modules that can be used as micro-services as standalone or for full end-to-end banking and payment experience, on-premise or as a service.
The Philippines has a large, socio-economically diverse population of over 100 million people spanning over 7,000 islands, yet geographic and institutional barriers to financial services mean that over 70 per cent of Filipinos remain unbanked, However, greater access to banking is becoming possible with meaningful new developments such as the recent launch of the country’s first digital-only bank TONIK. Incumbent banks are also growing their digital investments in order to welcome more customers and reduce friction for their existing customers.