RCBC allows clients to digitally manage trust fund portfolio

MANILA, Philippines — Almost all clients of Rizal Commercial Banking Corp. (RCBC) are now using the bank’s online channels to manage their unit investment trust funds (UITF) portfolio.

As of September this year, the listed bank said 99.06 percent of RCBC’s UITF transactions are now being done through online channels – via the online banking website and the mobile banking app.

Last February, RCBC introduced more digital innovations such as the launch of the mobile app for UITFs.

This resulted  in a 36.7 percent increase in the number of online UITF transactions.

As of the end of the third quarter, 58.75 percent of the RCBC UITF client base is already enrolled in the bank’s online channels.

Robert Ramos, head of the Trust and Investments Group at RCBC, said the bank’s efforts and investments to make all its digital channels efficient and safe to all its customers have finally borne fruit.

“Filipinos are managing their finances better through savings and investments, and RCBC has been highly active in promoting investment products and digital services, which can contribute to the financial wellness of Filipinos,” Ramos said.

Ramos pointed out businesses have been shifting efforts and expenditures to push digitalization to help drive more conversion for products and services offered.

“Taking advantage of the bank’s digital services also plays a big role in driving clients to invest – imagine investing with just a few clicks on your mobile phone. No need to go to the branch to fill out forms,” Ramos said.

RCBC is confident that more and more people will take advantage of the app to invest in UITF.

“For those who already have existing UITF portfolios, this will encourage them to actively manage their investments and grow them further,” he said.

UITFs are affordable investment products with initial placements as low as P5,000.

The bank recently won the top award for its UITF product, Rizal Equity Fund, in the CFA Society Philippines’ search for the 2021 Best Managed Funds of the Year-Equity Fund (Peso) Category.