RCBC is integrating its DiskarTech savings platform into the PalawanPay app, marking its first live implementation of banking-as-a-service, where financial services are embedded within a nonbank platform.
The initiative aims to extend formal banking access to 23 million PalawanPay users, particularly those who are currently underbanked.
Dubbed “PalaSave,” the partnership combines RCBC’s regulated financial infrastructure and security with PalawanPay’s broad grassroots reach. The digital product offers accessibility, easy enrollment, low incremental deposit requirements and competitive returns.
Shift in service delivery
“At RCBC, we believe that technology is only half the story. The key is about access and relevance. We often ask ourselves, how do we make banking feel less like a chore and more like a natural extension of a Filipino's daily life? The answer lies in meeting people exactly where they already are,” Reginaldo Anthony Cariaso, president and CEO of RCBC, said during the media launch on March 24, 2026.
Cariaso said the initiative represents a shift in service delivery, enabling millions of underbanked Filipinos to open formal savings accounts within an existing app. It also marks the bank’s first live banking-as-a-service rollout and reflects its co-creation partnership strategy.
“We bring the regulated infrastructure and security of a leading bank, while PalawanPay brings an unparalleled grassroots reach and a deep bond of trust with the communities they serve,” he added.
As of March 19, the Palasave feature had onboarded 60,000 new depositors and generated over P50 million in deposits. Within the year, Palasave aims to onboard at least one million users.
Addressing barriers to saving
Karlo Castro, president and CEO of Palawan Group of Companies, said saving remains difficult for many Filipinos, as traditional savings products often require minimum balances or initial deposits that feel inaccessible, making account opening seem intimidating.
“We believe saving should be simple. More importantly, saving should be inclusive,” he said.
Castro added that PalaSave is positioned as a step toward greater financial inclusion, offering both existing users and younger, digitally active customers a safe and simple way to save.
“Ultimately, our goal is clear: to make saving possible for every Filipino, especially for the masa who have long been underserved by traditional financial products,” he said.
‘Financially capable but systematically invisible’
RCBC launched DiskarTech during the pandemic to simplify account opening requirements, requiring only one valid ID, one mobile number, and one smartphone, while using local languages such as Taglish and Cebuano to improve accessibility.
The platform targets what the bank describes as the “financially capable but systematically invisible,” including gig workers, freelancers and retirees who have income but limited access to formal financial tools.
Trust and security remain key
Lito Villanueva, executive vice president and chief innovation and inclusion officer of RCBC, said digital services alone are not sufficient, emphasizing that access must be supported by trust.
Customers need reliable human support when issues arise, while strong security remains essential amid rising cyber threats and digital fraud, he said.
“Technology scales, but trust sustains. And in today's environment, where global instability fuels local anxiety, trust becomes the most valuable currency of all,” he added.
Villanueva said the partnership with the Palawan Group of Companies goes beyond a standard collaboration, positioning PalaSave as a digital solution to support financial resilience among the unbanked.
“Because in times like this, savings is no longer optional. It is survival. It is security. It is definitely about hope,” he said.
More opportunities for Filipinos to save money
The companies described the initiative as a large-scale effort to expand financial access and create more opportunities for Filipinos.
The product offers a 4-percent annual interest rate with no initial deposit or maintaining balance required, allowing users to start saving from as little as P200.
Withdrawals can be made from as low as P1 up to P20,000 per transaction. Applicants must be verified PalawanPay users and present a valid ID to open an account. —Ed: Corrie S. Narisma
Content Producer
