Leading digital challenger bank Rizal Commercial Banking Corporation (RCBC) announced its partnership with Elon Musk’s revolutionary Starlink internet solution to power its ATM Go network.
In a statement, RCBC said that one-fourth of its more than 6,000-strong network of RCBC ATM Go agents rely on Starlink.
Lito Villanueva, RCBC executive vice president and chief innovations and inclusion officer, said that Starlink's satellite internet technology has been pivotal in the rapid expansion of RCBC ATM Go, a digital solution that provides access to essential banking services, including deposits, withdrawals, transfers, bill payments, mobile loading, and the claiming of remittances and government aid.
Through strategic partnerships with local entrepreneurs, grassroots organizations, and government agencies, Villanueva said that RCBC ATM Go has achieved a 100 percent coverage rate, with a presence in all 82 provinces, every city, and most towns across the Philippines.
The global reach of Starlink, which spans 99 countries and recently launched in neighboring Indonesia, has proven instrumental in connecting underserved areas. President Bongbong Marcos highlighted the government's intention to collaborate with Starlink to enhance internet connectivity in rural regions , following its successful deployment on Kalayaan Island in the West Philippine Sea in February 2024 .
Villanueva cited Starlink as a transformative force for digital connectivity in the Philippines. "Starlink is a lifeline for underserved and unbanked Filipinos. Without it, the communities we serve wouldn't have access to the innovative digital solutions enjoyed in urban areas," said Villanueva.
"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," Villanueva added.
RCBC emerged as the fastest-growing bank in the country, leapfrogging from eighth position in 2018 to fifth in 2023 in the list of the Philippines’ largest privately owned banks in terms of assets.