RCBC, Commission on Filipinos overseas ink partnership to promote digital finance literacy

Rizal Commercial Banking Corp. (RCBC) has signed a Memorandum of Understanding (MoU) with the Commission on Filipinos Overseas (CFO) to promote digital finance literacy and expand digital banking services for millions of Filipinos worldwide.

The agreement, formalized by RCBC Executive Vice President and Chief Innovations and Inclusion Officer Lito Villanueva and Undersecretary Atty. Ma. Arlene Borja, CFO Executive Director, highlights the bank’s commitment to financial inclusion beyond Philippine borders. Demonstrating strong support from both RCBC and the CFO, key figures present included RCBC Chair Helen Yuchengco-Dee, President and CEO Eugene Acevedo, Deputy CEO Reggie Cariaso, and First Senior Vice President and RCBC Transaction Banking Group Head Martin Tirol, alongside Secretary Dante “Klink” Ang II, CFO Chairperson; Director Marie Apattad, Chief Emigrant Services Officer; and Patricia Marie Salvador, Senior Emigrant Services Officer from the Program Management Division.

The CFO was established to promote the interests, rights, and welfare of overseas Filipinos and their families, and strengthen their ties with the Philippines. Under the agreement, the bank and the government agency will collaborate to increase Filipinos’ digital and financial aptitude for Filipinos living and working overseas. 

From L-R: Undersecretary Atty. Ma. Arlene Borja, CFO Executive Director; Lito Villanueva, RCBC Executive Vice President and Chief Innovations and Inclusion Officer; Secretary Dante “Klink” Ang II, CFO Chairperson; Ms. Helen Yuchengco-Dee, RCBC Chair; Eugene Acevedo, RCBC President and CEO; Reggie Cariaso, RCBC Deputy CEO; and Martin Tirol, First Senior Vice President and RCBC Transaction Banking Group Head.

In parallel to the CFO’s education program – PESO Sense, RCBC will support the agency in organizing financial literacy seminars, creating and distributing informative materials, and promoting digital products and services. RCBC will be leveraging its award-winning digital solutions – Pulz, DiskarTech, ATM Go, and Pasado Digital Loans to actualize the agreement’s objectives.

Villanueva said that the CFO and RCBC find common ground in financially including and empowering Filipinos worldwide.

“Our shared mission is to include all Filipinos worldwide into our financial inclusion journey and make them closer to their families. This will bolster our commitment to the Philippine government’s goal of making digital finance available, relevant, and transformative to all Filipinos, no matter who they are, where they are, and when they need it,” Villanueva said.

“Through this Memorandum of Understanding, we bring together the strengths of the CFO and RCBC to deliver more accessible and impactful services. Whether through public assistance initiatives or educational campaigns, this partnership ensures that our kababayan receive the support they need every step of the way—from preparing to leave the country to thriving in their new homes abroad. And we are certain that with access to the various digital services and platforms of the RCBC our migrants will be a step closer to achieving migrant success,” Secretary Ang highlighted in his message.

In 2024, RCBC was the first bank to enable OFWs to open a bank account through its RCBC Pulz app, requiring only an international mobile number and a government ID. The convenient bank onboarding process has attracted thousands of OFWs to embrace digital banking. 

This latest collaboration comes from the bank’s pursuit of alignment with the government’s financial inclusion agenda. RCBC also partners with the Department of Migrant Workers (DMW) to bring empowering and engaging financial and digital literacy modules to OFWs and yet-to-be-OFWs and encourage them to adopt digital banking solutions.

ADVT.