CUSTOMERS of Rizal Commercial Banking Corp. (RCBC) can now choose to manage their mutual fund portfolio (UITF) through online channels that include a mobile app launched earlier this year.

In a statement on Thursday, the Yuchengco-led lender said that as of September of this year, 99.06% of its UITF transactions were made online. Meanwhile, compared to the previous year, UITF’s online transactions increased 36.66%, which the company attributes to more clients choosing to invest online.

According to the bank, 58.75% of its UITF customers were registered with its online channels at the end of the third quarter.

UITFs are low-cost investment vehicles, with initial deposits as low as 5,000 P.

Robert Ramos, director of the RCBC Trust and Investments Group, said the bank’s efforts to make its digital channels efficient and secure are paying off. “Filipinos manage their finances better through savings and investments, and RCBC has been very active in promoting investment products and digital services, which can contribute to the financial well-being of Filipinos,” he said. -he declares.

“Leveraging the bank’s digital services also plays an important role in getting customers to invest. Imagine investing with just a few clicks on your cell phone. No need to go to an agency to fill out forms. He noted that companies are refocusing their efforts and resources on promoting digitization in order to increase the conversion rates of the products and services they offer. RCBC, said Ramos, is optimistic that an increasing number of individuals will use the app to invest in UITFs.

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