RIZAL COMMERCIAL Banking Corp. (RCBC) is upgrading its remittance arm’s digital offerings to help drive its revenues as it has seen strong growth in online transactions among Filipinos abroad.
The bank said it will increase the digital capabilities and expand the global network of RCBC Remittance, formerly known as RCBC Telemoney, as more overseas Filipinos are now using online channels to send money.
“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,” RCBC Head of Transaction Banking Group Martin Roberto G. Tirol said in a statement.
Citing industry data, RCBC said 75% of remittances to the Philippines are now done through digital platforms, with inflows reaching a record $38.34 billion last year.
For its part, remittance transactions handled by RCBC grew 34% year on year as of June 2025, driven by new partnerships across Asia and efforts in the Middle East.
This resulted in a 17% increase in its transaction fee revenues and a 32% rise in its foreign exchange income in the first half. The current account, savings account volume of RCBC Global Filipino Banking also rose by 6%, surpassing the year-to-date target by 9%.
RCBC also aims to expand its remittance partnerships to reach over 80 tie-ups across 25 countries within the next five years, it said.
It has one subsidiary in Hong Kong and foreign remittance tie-up partners across 19 countries where there are a high number of overseas Filipino workers. Some of its digital remittance partners include Visa (global), Digital Wallet Corp. (Japan), Gmoney Trans (Korea), and Taptap Send, and it also maintains more than 20,000 domestic payout touchpoints.
“We continue to leverage digital solutions, strategic partnerships, and an expanded network, while ensuring security remains at the core of our services. 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,” Mr. Tirol said.
RCBC is also enhancing its remittance system with features like real-time transfers via application programming interface integrations, flexible fee charging, and automated billing for partners.
The bank added that it is looking at launching an outward remittance service that would allow Filipinos in the Philippines to send money abroad through its mobile application RCBC Pulz.
Pulz offers digitized account opening for overseas Filipinos in 42 countries for easier access to financial services.
RCBC’s net income jumped by 29.89% year on year to P2.92 billion in the second quarter amid higher net interest earnings. In the first half, its net profit climbed by 20.18% to P5.35 billion.
Its shares closed unchanged at P25.45 apiece on Monday. — A.M.C. Sy