Rizal Commercial Banking Corp. (RCBC) has entered into a partnership with mobile money transfer service Taptap Send to expand digital remittance options for overseas Filipinos.

The collaboration targets key regions including Australia, the United States, Canada, the United Arab Emirates, the United Kingdom, and Europe.

The move comes as digital channels increasingly dominate the remittance landscape. RCBC reported that digital platforms now handle 75% of remittances to the Philippines, with total inflows reaching a record US$38.34 billion last year.

Martin Tirol, RCBC Transaction Banking Group Head, noted that the partnership supports the bank’s objective of making financial services more accessible to Filipinos abroad and their families.

“Overseas Filipinos deserve swift, secure and convenient options for sending money home. The partnership underscores our commitment to collaborations that equip our kababayans with innovative financial tools to help them achieve their financial aspirations and build long-term plans,” Tirol said.

Through this agreement, RCBC aims to strengthen its remittance infrastructure and extend its global reach. The bank estimates that opening these new sending corridors will add approximately 500,000 new unique clients to its remittance system.

RCBC is currently the fifth-largest privately-owned universal bank in the Philippines.

The bank stated it continues to focus on its digital capabilities and remittance network to facilitate secure cross-border connectivity for individuals and businesses.

Featured image by kaneezmai841 via Freepik.