RCBC and PalawanPay Pass 1 Million PalaSave Accounts Early

Rizal Commercial Banking Corporation (RCBC) and PalawanPay announced that PalaSave has topped 1 million savings accounts, reaching its first-year target four months ahead of schedule.

PalaSave is RCBC’s first live deployment of Banking-as-a-Service (BaaS), which embeds bank infrastructure in another company’s platform. The service runs on RCBC’s DiskarTech technology within PalawanPay’s mobile app.

Verified users can open an RCBC Basic Deposit Account directly in PalawanPay, without installing another app. Accounts require no opening deposit or minimum balance. Eligible balances earn up to 4% annual interest.

The milestone advances RCBC’s wider digital banking effort, which uses DiskarTech integrations with public- and private-sector partners.