SSS loans & benefits now receivable via RCBC’s DiskarTech

PHOTO: RCBC President and CEO Eugene S. Acevedo call the partnership a “milestone in digitalizing government to person payments.” 

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All members of the Social Security System (SSS) worldwide can now get their SSS benefits and loans proceeds through the DiskarTech mobile app of the Rizal Commercial Banking Corporation (RCBC).

In a partnership launched during the lunar year of the Ox, RCBC President and Chief Executive Officer Eugene S. Acevedo and SSS President and CEO Aurora C. Ignacio encouraged the use of the DiskarTech digital platform by offering incentives to participating SSS members and pensioners.

“RCBC has been at the forefront of providing relevant and responsive digital solutions to our partners across industries. With this SSS collaboration, we are humbled to be of service to more than 36 million SSS members worldwide,” Acevedo said. “This is indeed a milestone in digitalizing government to person payments in support of the BSPs goals towards a digital Philippines.”

“The SSS partnership with RCBC is a welcome initiative aimed at encouraging members to explore and utilize digital enhancements that will provide them with the highest level of service,” said SSS President and Chief Executive Officer Aurora C. Ignacio. “This program will allow SSS members with RCBC DiskarTech accounts, enrolled in the Disbursement Account Enrollment Module or DAEM of the SSS website, to enjoy the convenience of fast and safe disbursement of their benefit and loan proceeds from the SSS, while having the chance to win cash and other exciting prizes from RCBC.”

The Siguradong Madiskarte promo will entitle 20 SSS members to win P10,000 each by registering their DiskarTech basic deposit accounts to the Disbursement Account Enrollment Module (DAEM) of the SSS. Those who have successfully registered will earn a raffle coupon. Additional raffle entry will be added for every credit of SSS benefit to their DiskarTech account. 

Any registered SSS member must register or enroll their 15-digital DiskarTech account number by visiting https://member.sss.gov.ph/members and choose RCBC/DiskarTech in the list of SSS bank partners. Members must ensure that they only enroll their actual accounts that will match with their registered SSS membership. 

DiskarTech is a transactional bank account that is applied to and used online. It requires no initial deposit, maintaining balance, nor dormancy fees. Its interface is also rendered in the vernacular Taglish language for the easier understanding of financial concepts and processes.

“This partnership is just one of the several initiatives that we have lined up for all our SSS members,” says Lito Villanueva, RCBC executive vice president and chief innovation and inclusion officer. “Millions of SSS members can enjoy 3.25 percent interest on their savings plus free fund transfers for the entire 2021 including free bills payment, e-load, and cash-in.”

Soon, DiskarTech will also provide sachet loans products on top of its microinsurance and telemedicine offerings.

RCBC is one of the leading universal banks accelerating digital transformation in the Philippines. It was judged in 2020 as the Philippines’ best digital bank by the Asiamoney Best Bank Awards and the Alpha Southeast Asia Best Financial Institutions Awards, among other global and regional recognitions. 

In 2020, RCBC and its digital platforms helped the National Government disburse social amelioration fund amounting to more than P12 billion to 3.3 million households, benefitting 16.6 million individuals in 72 out of 81 provinces nationwide.

According to BSP Governor Benjamin Dionkno, digital payments surged by over 5,000 percent amid pandemic. The country saw a surge in the use of electronic payment systems at the height of the COVID-19 pandemic in 2020 which went with a decline in the use of cash for transactions.