Philippine-based Rizal Commercial Banking Corporation (RCBC) broadens its digital banking offerings between the United States and the Philippines to include broader financial services beyond traditional remittances, leveraging its Digital Financial Services app DiskarTech.
The Rizal Commercial Banking Corporation (RCBC), one of the Philippines’ leading banks, has recently expanded its US-Philippines banking corridor by enhancing its digital financial platform, DiskarTech. Traditionally known for effectively facilitating remittances sent by overseas Filipino workers (OFWs) and other Filipinos abroad, RCBC is now offering an expanded suite of financial services through DiskarTech, aiming to strengthen financial inclusion and improve convenience for Filipinos living in the United States and their families in the Philippines.
DiskarTech, RCBC’s digital banking app, now supports not only remittance transactions but also allows users to access savings, loans, and payments services seamlessly. This expansion targets the growing Filipino diaspora in the US, a vital source of foreign exchange inflows for the Philippine economy, contributing to economic development and household welfare in the home country.
Philippine overseas workers and migrant communities have traditionally relied on remittances as a key part of their economic lifeline. By widening the scope of services beyond remittance transfers, RCBC aims to deepen financial connectivity between Filipino migrants and their families, offering them a wider range of banking solutions with greater ease and security.
The development aligns with the broader financial inclusion goals set forth by the Bangko Sentral ng Pilipinas (BSP), encouraging digital banking adoption and facilitating accessible and affordable banking products for overseas Filipinos and their dependents. RCBC’s innovation in this corridor serves as a model for leveraging fintech to address the needs of migrant workers and improve their financial well-being.
Sources referenced:
- https://news.google.com/rss/articles/CBMiiAFBVV95cUxQSklCNUlWQ0hKSGxEOHFIVlE1c2NSdkhKX1R1QWwyR29JQ3NxN2tJN01jek02N0ZsQ3drOE05X0poOEktblN0XzVvZ2dGMkRRQUVtcnJ2VlJnNTZTTUMyRkJUcV9PZXVla2ZIbV9aVHhGd245S09DMnFJNkFIWEJfYl8xNTdXNXVm
