RCBC Savings Bank (RSB), through its MyWallet prepaid stored value card, has been partnering with socio-development institutions like the Talete King Panyulung Kapampangan Foundation, Inc. (TPKI) and Kasagana Ka Development Center, Inc. (Kasagana-Ka), to provide assistance to the marginalized sectors.
RSB’s MyWallet is a low risk bank product that provides secure funds disbursement of loan proceeds of members. It makes the disbursement of financial assistance of TKPI and Kasagana-Ka more efficient, convenient, and safe. It also initiates a banking relationship between RSB and the individual members of these organizations who are mostly belonging to the unbanked sector.
The partnership is also in response to the “Bangko Sentral ng Pilipinas” (Central Bank of the Philippines) for financial inclusion programs that will assist the marginalized members of society to become financially self-sufficient and economically independent.
TPKI and Kasagana-ka will provide various skills training and financial assistance via their various development loans for their members to help them become financially self-sufficient and independent, and to become productive members of society which will contribute to the building of the local economy of the communities where they reside.
RCBC Bank project “MyWallet” won the 2017 ADFIAP Outstanding Development Project Merit Award, under the Financial Inclusion Category.