RCBC boosts digital remittance network for overseas Filipinos

The Rizal Commercial Banking Corp. (RCBC) announced on 13 October 2025 that its remittance arm, rebranded as RCBC Remittance, is scaling up its digital capabilities to support the growing shift of global Filipinos toward online money transfers. The move upholds the bank’s commitment to better serve the evolving needs of overseas Filipinos, whose remittances remain a key driver of the Philippine economy.

“This is part of our commitment to being catalysts for change by driving greater adoption of digital remittances, making it easier for global Filipinos to take advantage of growing accessibility worldwide,” said Martin Tirol, RCBC Head of Transaction Banking Group.

The latest industry data shows that around 75 percent of remittances to the Philippines are coursed through digital platforms, with inflows hitting a record $38.34 billion in 2024.

The bank said remittance transactions rose 34 percent year-on-year (YOY) as of June 2025, resulting in a 17 percent increase in transaction fee revenues and a 32 percent growth in foreign exchange income, primarily driven by new partnerships in Asia and continuing initiatives in the Middle East. RCBC’s Global Filipino Banking (GFB) segment also recorded a 6 percent YOY growth in current account & savings account (CASA) deposits, exceeding its year-to-date target by 9 percent.

“We continue to leverage digital solutions, strategic partnerships, and an expanded network, while ensuring security remains at the core of our services,” Tirol said. “With advanced safety measures, we safeguard customers’ information and funds, and through active promotion of cybersecurity and safe online banking practices, we help them remain protected against theft and fraud.”

The bank has also digitized account opening through its RCBC Pulz mobile app for Filipinos in 42 countries, enabling convenient and branchless access to financial services. RCBC is further exploring outward remittance services to allow local users to send funds abroad directly through the app.