RCBC to expand global presence, boost remittance services for OFWs

Yuchengco-led Rizal Commercial Banking Corp. is strengthening its international reach with its remittance service, RCBC Telemoney, to better serve the financial needs of overseas Filipino workers (OFWs) across Asia Pacific, Europe and North America.

- By KEISHA TA-ASAN

Martin Tirol, head of RCBC's transaction banking group, said that Telemoney already maintains a strong presence in the Middle East and is now focusing on expanding into Asia Pacific, Europe and North America regions.

These key areas are where the demand for remittance services continues to grow due to an increasing number of OFWs.

"As RCBC enters these new markets, the competitive landscape has shifted with the entrance of fintech companies and traditional banks," Tirol said.