UITF portfolio now managed through a mobile banking app

Published March 2, 2021, 8:15 PM

by Len Amadora

Investors in Rizal Commercial Banking Corporation’s (RCBC) unit investment trust funds (UITF) can now manage their portfolio through its mobile banking app, a part of its innovation series in the bank’s aggressive digital expansion.

Clients with existing UITF accounts enrolled in the RCBC Online Retail (ROR) platform may now add and redeem an investment or cancel a pending placement or redemption in-app.

RCBC remains to be the first and only local bank to offer a complete, end-to-end digital UITF experience from enrolment to redemption within its main online platform.

Enrollment can be completed online via the web portal rcbconlinebanking.com. No branch appearance is required for any related transaction.

“Digital technology is a great equalizer, especially when applied to financial services,” says Eugene S. Acevedo, president and chief executive officer of RCBC. “UITFs offer highly affordable investments. Onboarding its complete application and use in the web and app platforms extend these helpful products for the benefit of more Filipinos.”

The minimum amount required to start investing in UITFs with RCBC is only P5,000.

“Given that the majority of Filipinos have mobile phones, we made sure that their investment transactions can now be also completed using RCBC’s mobile app,” says Robert B. Ramos, trust and investments group head.

“We know how important it is to manage finances in these critical times. Our aim is to provide as many options and channels to the investing public while ensuring that their transactions are completely safe and secure,” Ramos adds.

Also, RCBC has recently made available more branchless banking transactions with its “digital concierge” feature for its web users.

Customers of the Yuchengco-led bank may now request for bank certifications, replace damaged ATM cards, reset personal identification numbers (PIN), and make foreign or local telegraphic transfer through ROR.

“By bringing branch transactions to the digital sphere – a more familiar and accessible platform to Filipinos – RCBC hopes to encourage more participation to the formal financial system and the use of its many services and products,” says Lito Villanueva, executive vice president and chief innovation and inclusion officer.

To avail of these new services, ROR clients need only update their app. They may log in to their Google Play Store accounts for Android users or their Apple App Store accounts for iPhone or iPad users, search “RCBC online banking,” and click the “Update” button.

 
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