RCBC Partners Relaxie to Expand Digital Banking for Filipinos in Europe
Announced at the Singapore FinTech Festival, the collaboration aims to embed RCBC’s digital banking products (such as savings and remittances) directly into Relaxie’s EU-based platforms.
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Rizal Commercial Banking Corporation (RCBC) has announced a partnership with Relaxie, the European operator of the Tarakabayan and Power MIMS Ecosystem, to serve overseas Filipinos in Europe.
The agreement aims to advance financial inclusion by embedding RCBC’s digital banking products directly into Relaxie’s EU-based platforms. These offerings include savings, remittances, credit, and payments.
This partnership designates Relaxie to enable financial connectivity between the Philippines and Europe, covering services such as digital onboarding and settlements. Crucially, the collaboration ensures full adherence to regulations in both jurisdictions.
Lito Villanueva, Executive Vice President and Chief Innovations and Inclusion Officer at RCBC, commented on the strategic direction of the deal. He specifically highlighted the role of Open Finance in driving this initiative.
Lito Villanueva
“Open Finance is bridging Overseas Filipino Workers (OFWs) through the fusion of digital financial services across the world, further boosting the economy and realising the dreams of their family,” Villanueva said.
Adrian Farkas, President of Relaxie, noted the necessity of digitising manual processes for OFWs in the Central European region.
Farkas cited the example of ACE, which deployed over 8,000 guest workers to Hungary in the last three years. He stated that these numbers are expected to increase significantly due to ageing populations.
Atty. Rahimas S. Ayunan, President of Power MIMS Corporation, described the partnership as a “turning point” for institutions involved in technology-driven migration.
“Our OFWs deserve an ecosystem—not scattered services, not temporary fixes—but a true digital backbone that protects them from recruitment to deployment, and supports them all the way to reintegration and financial growth,” Ayunan stated.
Villanueva added that this initiative complements RCBC’s existing literacy programmes with the Department of Migrant Workers (DMW) and the Commission on Filipinos Overseas (CFO).
