English | 简体中文 | 繁體中文 | 한국어 | 日本語
Wednesday, 13 November 2024, 10:00 HKT/SGT
Share:
    

Source: APIwiz
RCBC Partners With APIwiz to Launch Digital 2.0 Marketplace for Pioneering the Future of Financial Service Distribution

SINGAPORE, Nov 13, 2024 - (ACN Newswire) - Philippines' Rizal Commercial Banking Corporation (RCBC) has announced at the Singapore FinTech Festival its strategic collaboration to pilot its Digital 2.0 Marketplace, which will define the future of digital distribution. Banks can follow a platform approach built around unbundling and re-assembling products and services through Open Platforms. RCBC will become the first bank in Southeast Asia to offer this platform. This groundbreaking marketplace will transform banking services by enabling real-time service creation through automation, providing significant benefits to customers and RCBC's global strategic partners.

"We aim to make banking and related services accessible to Filipinos worldwide, and our ongoing commitment to innovation will make this a reality. With APIwiz, we can manage and govern our Application Protocol Interface (APIs) in real-time and leverage composable APIs to comply, compete, and collaborate, allowing us to offer a wide range of unprecedented services that customers in this market have never experienced before through platform banking," shared Lito Villanueva, Executive Vice President and Chief Innovation & Inclusion Officer, RCBC.

APIs serve as the essential connectors in modern banking while platform banking continues to evolve. Banks should prioritize deploying and integrating service meshes in the short term to facilitate interactions with legacy core banking systems. This approach acts as a gateway for external connections and speeds up integration by exposing well-defined APIs. Over time, banks are expected to transition to microservices-based core platforms, fostering a more scalable and flexible ecosystem.

"This transition will enable a true platform banking environment streamlining API integration and deployment, accelerating banks' transition to modern, microservices-based platforms for enhanced flexibility and scalability," shared John Alabastro, IT Shared Services Group Head & CTO, RCBC

"APIwiz, an end-end API platform, allows enterprises to build, govern, and operate APIs effectively. APIs are the digital glue of modern banking; however, the number of APIs used in banking is growing exponentially, and an API platform is needed to simplify, standardize, centralize, and automate API delivery. Open banking helps create innovative business models. Using APIs, RCBC can transform itself from a business to a platform, multiplying value creation by enabling business ecosystems within and outside the enterprise," shared Darshan Shivashankar, Founder and CEO of APIwiz.

"Supporting the execution of this strategic partnership is Hungry Workhorse, a Manila-based services company specializing in digital and cultural transformation and a partner of APIwiz. "This collaboration places RCBC as a Filipino company at the forefront of innovation and digital experiences, demonstrating its strong commitment to empowering Filipinos on their financial journey and making it more accessible and easier, no matter where they are," according to Kay Calpo-Lugtu, COO of Hungry Workhorse.

About Rizal Commercial Banking Corporation

Part of the Yuchengco Group of Companies, Rizal Commercial Banking Corporation (RCBC) is the fifth largest privately owned universal bank in the Philippines, with over Php1.3 trillion in total resources as of June 30, 2024. It is an affiliate of Sumitomo Mitsui Banking Corporation, Japan's second-largest bank.

For over 60 years, RCBC has been building a reputation for providing the best customer experience, award-winning digital banking services, and pioneering innovations. Euromoney and Asia Money have recognized it as the Philippines' Best Bank for Digital for five straight years (202020-2024). The Bank offers various banking and financial products and services to cater to diverse customer segments. It provides consumer, commercial, and corporate lending products, deposits and cash management solutions, treasury products, remittance services, and digital banking services.

RCBC and its subsidiaries also offer corporate banking, wealth, trust, retail financing (automortgage/housing loanscredit cards, and microfinance loans), remittanceleasing, and securities.

About APIwiz

Headquartered in California, APIwiz provides a centralized management platform for API operations, enabling the APIOps framework to develop consumable, monetizable APIs and fostering collaboration among business and technical stakeholders. With low-code tools, automation, and embedded governance, APIwiz streamlines the entire API lifecycle-from planning and design to building, managing, testing, securing, and publishing. Its federated gateway capabilities enable seamless integration with any API gateway while offering real-time insights into API usage, performance, compliance, and workflow visualizations without external tools.

About Hungry Workhorse

Hungry Workhorse is a digital, culture, and customer experience transformation consulting firm that drives transformational growth through innovative, grounded methodologies in strategy, technology, and people.

Contact Information
Anurag Shukla
Marketing Manager
anurag@apiwiz.com
+14084317383

SOURCE: APIwiz



Topic: Press release summary
Source: APIwiz

Sectors: FinTech
https://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 

Latest Press Releases
CleverTap Recognized as a 'Strong Performer' in the Cross-Channel Marketing Hubs, Q4 2024 Report  
Nov 23, 2024 20:42 HKT/SGT
First Quarterly Profit, High-Quality Platform Growth, NaaS Technology Accelerates Ecosystem Development  
Nov 22, 2024 23:22 HKT/SGT
Tat Hong Equipment Service Co., Ltd. Announces 2024/25 Interim Results  
Nov 22, 2024 19:56 HKT/SGT
Daeshin MC Co., Ltd. Unveils Its Clean Solutions Creating Pleasant Indoor Environments from Industrial Sites to Public Facilities  
Nov 22, 2024 11:00 HKT/SGT
Kaplan Fox & Kilsheimer LLP Alerts Investors to a Securities Class Action Against Humacyte, Inc. (HUMA) - Deadline is January 17, 2025  
Friday, November 22, 2024 10:00:00 AM
Jacobson Pharma Announces FY2025 Interim Results  
Nov 22, 2024 10:00 HKT/SGT
NaaS Q3 2024 Recap: Strategic Shifts and Tech Innovations for Growth  
Thursday, November 21, 2024 9:59:00 PM
GMG Unveils SUPER G(R): A Game-Changing Graphene Solution for the Lithium-Ion Battery Industry  
Nov 21, 2024 21:29 HKT/SGT
neurocare Group AG Welcomes Kevin Reeder as Chief Financial Officer  
Nov 21, 2024 21:20 HKT/SGT
Experience the Power of Movement: Jin Pilates Brings Singapore's First Garuda Studio for Dynamic, Holistic Wellness  
Nov 21, 2024 20:19 HKT/SGT
More Press release >>
 Events:
More events >>
Copyright © 2024 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575