RCBC Partners with Starlink to Enhance Digital Banking in Rural Areas

Rizal Commercial Banking Corporation (RCBC) has entered into an alliance with Starlink to expand its digital services available in more rural areas. According to the bank, one-fourth of its more than 6,000-strong network of RCBC ATM Go agents is now powered by Elon Musk’s satellite internet solution.

ALSO READ

PLDT-Smart Working On 'Cell Site in the Sky'

It’s Time to Pass the Bill Mandating Refunds Each Time There’s an Internet Outage

Starlink, launched in 2019, leverages on advanced satellites and user hardware to deliver high-speed, low-latency internet to users globally. It claims to be the world’s “first and largest satellite constellation using a low Earth orbit”—offering an average download speed of over 100 Mbps, which is considered fast across the board.

For the Yuchengco-led bank, Starlink’s technology has been pivotal in the expansion of RCBC ATM Go. It's a digital solution providing access to essential banking services, including deposits, withdrawals, fund transfers, bills payment, and the claiming of remittances and government aid, among others. Thanks to this latest addition to its network, RCBC says it now has a presence in 82 provinces and almost all towns in the Philippines, in addition to major cities.

“Without [Starlink], the communities we serve wouldn’t have access to the digital solutions available in urban areas,” Lito Villanueva, executive vice president of RCBC, said. “Our journey towards a fully digital society must be inclusive, ensuring no one is left behind. This philosophy aligns with Elon Musk’s vision for Starlink. I hope more Filipinos will embrace this technology and the vision of a connected world.”

Starlink covers a total of 99 countries worldwide. Its technology has been instrumental in providing access to internet, especially in unbanked and underserved communities. Earlier, the Philippine government bared plans to work with Starlink to improve connectivity in far-flung areas, following its deployment on Kalayaan Island in the West Philippine Sea in February.

RCBC is dubbed as the fifth largest privately owned universal bank in the Philippines, with more than P1.2 trillion in resources as of end-2023. It is owned by one of the oldest and biggest conglomerates in Southeast Asia, the Yuchengco Group of Companies.