The Palawan Group of Companies and RCBC, through its digital banking platform RCBC DiskarTech, have officially launched PalaSave, a savings feature integrated into the PalawanPay app designed to make saving more accessible, simple, and inclusive for Filipinos.
Positioned as a digital savings solution for everyday users, PalaSave allows verified PalawanPay customers to open a savings account directly within the app — without requiring an initial deposit or maintaining balance.
Users can start saving with as little as ₱200, earn up to 4% annual interest (credited monthly), and manage their funds seamlessly through their PalawanPay wallet.
The initiative reflects a broader push by both organizations to deepen financial inclusion by combining digital innovation with physical reach and long-standing customer trust.
With over 23 million PalawanPay users and thousands of service touchpoints nationwide, the partnership aims to meet Filipinos where they are — whether online or through established community networks.
Building on a mission of inclusion
RCBC’s Lito Villanueva delivering his speech
The launch of PalaSave is rooted in the evolution of RCBC DiskarTech, which was introduced during the COVID-19 pandemic to bring banking services closer to Filipinos, particularly those underserved by traditional institutions.
In his speech, RCBC DiskarTech Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva emphasized the human-centered vision behind the platform, stating, “If people cannot go to the bank, then the bank should go to them.”
He then highlighted how RCBC DiskarTech was created in response to a time of global uncertainty, when access (and not just innovation) became the primary challenge.
According to him, what began as a solution during the pandemic has since evolved into a broader movement aimed at simplifying financial services and making them more relevant to everyday Filipinos.
Villanueva also underscored the importance of removing barriers to entry. By requiring only a valid ID, a mobile number, and a smartphone, the platform reduces friction and makes financial tools more approachable, even for first-time users.
Beyond functionality, he stressed that trust, simplicity, and accessibility are essential pillars of sustainable digital finance. ““Technology scales, but trust sustains,” he explained.
A partnership anchored on trust and reach
Photo shows RCBC’s Helen Y. Dy (4th from left) shaking hands with Palawan Group’s Bobby L. Castro. Joining them during the partnership signing are (from left): RCBC’s Jose Carlo Eufemio (Digital Loans and Business Development Head), Lito Villanueva (EVP and Chief Inclusion and Innovation Officer), and Reginaldo Anthony Cariaso (President and CEO), as well as Karlo M. Castro (President and CEO of Palawan Group of Companies), Lilian Castro-Selda (CFO of Palawan Group of Companies), and Third Librea (President and CEO of PalawanPay).
For the Palawan Group, the collaboration builds on its long-standing presence in the financial services space, supported by both physical branches and digital platforms.
Speaking on the company’s role in the partnership, Lilian Castro-Selda, Chief Financial Officer of Palawan Group of Companies, described their approach as a blend of digital accessibility and community-based trust, saying, “We’re not a bank, but we aim to revolutionize access to financial services. We’re actually a bricktech company — digitally present with over 23 million users, and physically present through more than 3,600 branches nationwide.”
She emphasized that the strength of the partnership lies in combining RCBC’s digital infrastructure with Palawan Group’s extensive physical network and customer familiarity. “It’s really having the best of both worlds, having both digital presence and physical presence. Customers know that their savings are safe, and they always have someone to call or a branch to go to if needed.”
This hybrid model ensures that users have continuous support, whether through the app or in person, reinforcing confidence in managing their finances.
Features designed for everyday use
PalaSave accounts are classified as basic deposit accounts regulated under banking standards. Users can deposit funds via their PalawanPay wallet and withdraw them back to the same wallet for transfers or spending.
Key features include:
- No initial deposit and no maintaining balance
- Minimum deposit of ₱200
- Interest of up to 4% per annum, credited monthly
- Maximum deposit limits and interest caps to maintain system structure
- Seamless integration with PalawanPay services such as bills payment and transfers
Security and transparency are also emphasized, with users able to monitor balances, interest earned, and transaction history within the app.
Early traction and future impact
Even before a full-scale marketing rollout, the initiative has already shown promising early adoption, with tens of thousands of users and substantial deposit activity reported during its soft launch phase.
This signals strong demand for accessible savings tools that align with the financial realities of many Filipinos. More than just a product, PalaSave represents a convergence of technology, trust, and community-driven finance.
As Villanueva further noted, the goal is not only scale, but meaningful impact: “It is impact that reaches millions… impact that uplifts communities… And to borrow a word from Mr. Bobby Castro of Palawan Group, it’s a ‘billionable” undertaking that empowers every Filipino, one transaction and one savings account at a time.”
With this partnership, RCBC and the Palawan Group aim to strengthen financial resilience among Filipinos, turning savings from a challenge into a habit, and from a necessity into an accessible opportunity for growth.
