RCBC, Japan fintech partner for digital transactions

The Yuchengco Group’s Rizal Commercial Banking Corporation (RCBC) has teamed up with a Japanese global IT and fintech company Digital Wallet Corporation (DWC) to enhance the facilitation of cross-border digital transactions between Philippines and Japan.

In a statement, RCBC First senior Vice President and Global Transaction Banking Group Head Martin Tirol said this newly-forged partnership with Digital Wallet 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 noted.

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,” said DWC chief executive officer Eiji Miyakawa.

He added that, “We’re already voted number one among the OFW [oversea s 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.”

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.