The Rizal Commercial Banking Corp. (RCBC) has partnered with the Japanese IT and fintech company, Digital Wallet Corporation (DWC), to enhance the facilitation of cross-border digital transactions between Philippines and Japan.
Martin Tirol, RCBC first senior vice president and global transaction banking group head, said the partnership will accelerate frictionless digital cross-border transactions and fintech adoption between Filipinos in Japan and the Philippines.
“Digital Wallet also shares the same value we have – being a partner through generations,” he further said.
DWC is an information technology (IT) and fintech company operating Smiles Mobile Remittance, Japan’s number one remittance service with the largest ATM network access to its customers.
It was also the first fintech and remittance company to receive the Good Design Award 2021, with its remittance service also being voted number one by the Filipino community in Japan.
By utilizing RCBC’s extensive reach and expertise in catering to the needs of millennials and tech-savvy consumers, especially in the Philippines, Digital Wallet aims to further empower its customers with Smiles Mobile Remittance.
“This partnership signifies our shared vision of driving digitalization and shaping the future of banking in the Philippines. We’re already voted number one among the OFW [overseas Filipino workers] community in Japan, so we are eager to see how much more we can enhance our customers’ experience with RCBC’s solid reputation,” said DWC chief executive officer Eiji Miyakawa.
RCBC is now the fifth largest privately-owned universal bank in the Philippines, with over P1.2-trillion in total resources as of end 2022.
The Yuchengco-led bank has also consistently been at the forefront of digital innovation in the banking sector, receiving the “Best Bank for Digital and Best Corporate Bank Philippines in 2024” from Global Banking and Finance; “Remittance Company of the Year – Philippines” by the Asian Banking and Finance Retail Banking Awards; and “Best Remittance Service” by the Retail Banker International Asia Trailblazer Awards in 2024.
