Rizal Commercial Banking Corporation (RCBC) and PalawanPay have reached more than 1 million PalaSave savings accounts, reaching their first-year target four months ahead of schedule, the companies announced.
The milestone comes eight months after the service launched in January 2026. PalaSave serves as RCBC’s first live deployment of Banking-as-a-Service (BaaS), which embeds the bank’s DiskarTech infrastructure directly inside PalawanPay’s mobile app. The integration allows verified e-wallet users to open an RCBC Basic Deposit Account without leaving the PalawanPay app, downloading secondary software or maintaining a minimum balance.
Accounts under the feature offer up to 4% annual interest on eligible balances with no initial deposit required.
“Reaching 1 million PalaSave accounts ahead of target shows that Filipinos are ready to embrace digital savings when financial services are made simple, accessible and available through platforms they already know and trust,” said Lito Villanueva, executive vice president and chief innovation and inclusion officer at RCBC.
Karlo M. Castro, president and CEO of the Palawan Group of Companies, said the milestone reflects growing demand for accessible digital finance across local communities.
The achievement forms part of RCBC’s broader strategy to expand its digital banking footprint through public and private sector integrations using its DiskarTech platform.
RCBC also recently expanded its public sector partnership with the Social Security System (SSS) through the launch of SSS LoanLite.
- Embedded within the DiskarTech app, the facility allows qualified SSS members to apply for short-term microloans ranging from ₱1,000 to ₱20,000.
- The end-to-end digital borrowing process features real-time eligibility checks, automated credit decisions and direct account disbursements without requiring physical branch visits or employer pre-approvals. SSS benefit disbursements processed through the platform exceeded ₱2.69 billion between January and July 2026.
- Read More: SSS LoanLite on RCBC DiskarTech: How to Apply for Digital SSS Microloans Up to ₱20,000
This article is published on BitPinas: RCBC, PalawanPay Hit 1 Million PalaSave Digital Accounts Ahead of Target
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