{"id":3095,"date":"2020-04-24T02:52:06","date_gmt":"2020-04-24T02:52:06","guid":{"rendered":"https:\/\/www.rizalmicrobank.com\/?p=3095"},"modified":"2020-04-24T02:52:39","modified_gmt":"2020-04-24T02:52:39","slug":"rcbc-thrift-bank-leads-the-complete-shift-to-cloud-based-core-banking-technology","status":"publish","type":"post","link":"https:\/\/www.rizalmicrobank.com\/index.php\/rcbc-thrift-bank-leads-the-complete-shift-to-cloud-based-core-banking-technology\/","title":{"rendered":"RCBC Thrift Bank leads the complete shift to Cloud-Based Core Banking Technology"},"content":{"rendered":"

Rizal MicroBank (RMB) – the Thrift Bank of RCBC, is the first thrift bank in the Philippines to get Bangko Sentral ng Pilipinas (BSP) approval to fully shift to a cloud based core banking system through a partnership with NXTBNK, a Poland-based next-gen cloud platform provider for modern banks.<\/span><\/p>\n

The platform enables RMB to utilize an efficient automated system in enacting basic banking transactions and generating internal and regulatory reports. Having this mechanism would minimize the time requirement for opening deposit accounts, and applying for microfinance and small business loans, allowing more time to service more clients within and outside the branch premises.<\/span><\/p>\n

The platform which is deployed through Amazon Web Services (AWS), a reputable on-demand cloud computing platform, includes an open source Application Program Interface (API) that enables the Bank to be adaptable and compatible for open banking.<\/span><\/p>\n

\u201cThis major development truly advances our capabilities to provide access to financial services, especially to the underserved and unbanked segment. Moreover, it reaffirms our commitment towards the digital financial inclusion strategy of Bangko Sentral ng Pilipinas (BSP),\u201d RMB President Raymundo Roxas stated.<\/span><\/p>\n

Envisioned to be at the forefront of digital financial inclusion, RMB\u2019s move to utilize a next-gen cloud platform in its banking operations provides a more conducive environment to further serve the unbanked and underserved sector.<\/span><\/p>\n

The bank recently launched Basic Deposit Account (BDA) and has enabled more than 3,500 Filipinos to open their first formal savings account. Now with more capabilities, RMB is gearing up its efforts in expanding its business through Agency banking program which will allow local merchants and entrepreneurs to perform basic banking services and offer the bank\u2019s products and services to those residing in far-flung unbanked areas.<\/span><\/p>\n

RMB\u2019s Chairman and RCBC President Eugene S. Acevedo has expressed his full support towards these initiatives. A firm believer and advocate of microfinance, Mr. Acevedo has his vision set for RMB to become the neighborhood bank in most of the 42,000 barangays of the country.<\/span><\/p>\n

\u201cTechnological innovation is meaningless if it does not touch and improve the lives of small people especially those who have been long deprived of access to much-needed financial services,\u201d Mr. Acevedo said.<\/span><\/p>\n

The platform is fully compliant with the latest local and international policies and regulations. Its parent company, RCBC, is the first local bank to advocate open banking, making the RCBC group leading to become the Filipinos\u2019 prime financial inclusion partner.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Rizal MicroBank (RMB) – the Thrift Bank of RCBC, is the first thrift bank in the Philippines to get Bangko Sentral ng Pilipinas (BSP) approval to fully shift to a cloud based core banking system through a partnership with NXTBNK, a Poland-based next-gen cloud platform provider for modern banks. The platform enables RMB to utilize […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[9],"tags":[],"class_list":["post-3095","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.rizalmicrobank.com\/index.php\/wp-json\/wp\/v2\/posts\/3095","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rizalmicrobank.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rizalmicrobank.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rizalmicrobank.com\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rizalmicrobank.com\/index.php\/wp-json\/wp\/v2\/comments?post=3095"}],"version-history":[{"count":3,"href":"https:\/\/www.rizalmicrobank.com\/index.php\/wp-json\/wp\/v2\/posts\/3095\/revisions"}],"predecessor-version":[{"id":3099,"href":"https:\/\/www.rizalmicrobank.com\/index.php\/wp-json\/wp\/v2\/posts\/3095\/revisions\/3099"}],"wp:attachment":[{"href":"https:\/\/www.rizalmicrobank.com\/index.php\/wp-json\/wp\/v2\/media?parent=3095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rizalmicrobank.com\/index.php\/wp-json\/wp\/v2\/categories?post=3095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rizalmicrobank.com\/index.php\/wp-json\/wp\/v2\/tags?post=3095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}