Latest news with #RCBC
GMA Network
02-07-2025
- Business
- GMA Network
Higala-RCBC tie up onboards 8 rural banks to InstaPay
In an effort to expand the digital footprint of rural banks, the partnership between Yuchengco-led Rizal Commercial Banking Corp. (RCBC) and homegrown instant payments infrastructure provider Higala Group Inc. has onboarded eight rural banks across the country to InstaPay. Higala and RCBC have jointly created Synerfi, an open payments platform that reduces barriers and accelerates the participation of smaller financial institutions in InstaPay. The companies developed Synerfi to help rural banks as well as microfinance institutions expand their digital transactions through InstaPay as 'traditionally, many rural and community banks have been excluded from the digital financial ecosystem due to regulatory and technological constraints.' Among the onboarded rural banks in Synerfi include Rural Bank of San Antonio Inc., Rural Bank of Lipa City (Batangas), Inc., Progressive Rural Bank Inc., Banco Abucay Inc., Rural Bank of Hermosa (Bataan) Inc., Money Mall Rural Bank Inc., First Philippine Partners Bank Inc. (A Rural Bank), and Lagawe Highlands Rural Bank, Inc. 'This marks the beginning of empowering the underserved banking sector by enabling them to offer digital banking services that are otherwise available only to mainstream and traditional banks,' said Winston Damarillo, president and CEO of Higala. "Connecting rural banks to Instapay and the wider digital ecosystem is not simply an act of digitalization, but a deeper commitment to accelerate financial inclusion in underserved areas. SynerFi continues to demonstrate its promise to drive financial access beyond urban areas and materialize the government's sustainable agenda," said Lito Villanueva, executive vice president and chief innovation and inclusion officer of RCBC. "RCBC is excited to welcome more participants with the shared mission to make banking services accessible to all Filipinos into the instant payment ecosystem," Villanueva added. The RCBC official said the bank and Higala are 'targeting 40 rural banks to be onboarded.' Under their partnership, Higala is providing the technology to operationalize SynerFi while RCBC is acting as the sponsor platform bank and manage the essential regulatory requirements, such as compliance, clearing, and settlement. 'SynerFi seeks to empower rural banks like Rural Bank of San Antonio to access world-class digital banking capabilities. Launching these services with zero capital intensity and without the heavy burden of building dedicated in-house tech and compliance teams is invaluable, enabling us to offer customers top-tier technology and services, truly digitizing our reach.' said Ronaldo Recto, president of the Rural Bank of San Antonio. Meanwhile, Higala also secured a fresh seed funding of $4 million from venture capitalists Talino Venture Studios, Chemonics International, Kadan Capital, Tenco Capital, and 1982 Ventures. 'Fresh funds from our investors will help accelerate Higala's capabilities of powering SynerFi and helping more financial institutions grow and expand their services to their customers and become active players in the digital economy,' Damarilio said. 'After successfully raising our target seed funding of $2.8 million, we've expanded our round to $4 million due to increased interest in Higala and signaling investor confidence in our product,' said Chemonics International president and CEO Jamey Butcher. —AOL, GMA Integrated News
GMA Network
01-07-2025
- Business
- GMA Network
Reggie Cariaso is new RCBC President and CEO
Rizal Commercial Banking Corp. (RCBC) on Tuesday announced a key leadership change with Reginaldo 'Reggie' Cariaso stepping up as its new president and chief executive officer (CEO), succeeding Eugene Acevedo who retired effective July 1. Acevedo was appointed deputy CEO on January 1, 2025, where he headed the Operations Group and led corporate-wide initiatives aimed at boosting service delivery and streamlining processes. His predecessor Acevedo also served as deputy CEO for six months in 2019 to his predecessor Gil Buenaventura. 'Our focus is clear. We will build more seamless connections to deliver relevant, timely, and intuitive financial solutions,' Cariaso said in an emailed statement. 'We want to serve our customers in ways that are not only accessible and secure, but meaningful and future-ready,' he added. Cariaso also cited the need to upgrade RCBC's approach to move beyond basic transactions to a more scalable strategy through digital tools, data, and smarter systems to deepen client engagement. 'Our job is to integrate channels, data, and teams more effectively in order to deliver not just better products, but better outcomes,' he said. 'From payments to platforms to partnerships, everything must work together to create lasting value,' he added. Acevedo, who took charge as president and CEO in 2019, is set to remain actively involved in RCBC as a member of the Board of Directors RCBC was the sixth-largest bank in the Philippines as of March 2025, with a total of P1.509 trillion worth of assets. —VAL, GMA Integrated News
GMA Network
19-06-2025
- Business
- GMA Network
Peso weakens to 12-week low of P57.45:$1
The Philippine peso weakened for the eighth straight trading day on Thursday to mark its worst showing in 12 weeks, as the market factored in geopolitical tensions between Israel and Iran and the current levels of global crude prices. The local currency closed at P57.45:$1, 47 centavos weaker than Wednesday's finish of P56.98:$1. This is the weakest close of the peso since March 26, 2025 when it finished at P57.69:$1. Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort attributed Thursday's depreciation to the possible escalation of the Israel and Iran tensions to potentially involve the United States. US President Donald Trump has declined to say if he had made any decision on whether to join Israel's campaign, saying he may or may not do it, adding that 'nobody knows what I'm going to do.' 'Some risk aversion or flight-to-quality recently due to the continued geopolitical risks in the Middle East, the conflict and retaliatory attacks between Israel and Iran since Friday,' Ricafort said. He also noted the correction of the US dollar against major global currencies to a new one-week high from recent three-year lows, and the global crude oil prices that have hit the highest level since January this year. Ricafort said the peso is expected to trade at P57.35 to P57.55 against the dollar on Friday, June 20, 2025, with the major six-month resistance at P57.55:$1 levels. For its part, the Bangko Sentral ng Pilipinas (BSP) said it is developing a playbook for intervention, but it would take some time for the continuous depreciation of the peso to impact inflation and prompt it to intervene. — RSJ, GMA Integrated News
Yahoo
05-06-2025
- Business
- Yahoo
MoneyHero and RCBC Forge Strategic Partnership to Tap into the Philippines' Expanding Card Market
SINGAPORE, June 04, 2025 (GLOBE NEWSWIRE) -- MoneyHero Limited (NASDAQ: MNY) (MoneyHero' or the 'Company'), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, today announced a strategic partnership with Rizal Commercial Banking Corporation ('RCBC'), a trusted leader in Philippine banking known for its customer-focused innovation and inclusive financial services, through its card servicing entity, RCBC Bankard Services Corporation ('RCBC Credit Cards'). Through this collaboration, MoneyHero will integrate RCBC's full suite of rewards, lifestyle, travel, and premium credit card products into its digital platform, enabling Filipinos to seamlessly discover, compare, and apply for cards that suit their personal financial needs. This partnership significantly expands MoneyHero's credit card offerings in the Philippines and reinforces its position as the leading digital acquisition partner for banks and personal finance aggregation and comparison platforms in the region. By combining MoneyHero's digital conversion expertise with RCBC's strong growth momentum in consumer finance and strategic focus on data-driven innovation, the strategic partnership will improve customer experience and expand access to personal financial solutions. Together, they will advance a more inclusive and digitally empowered financial ecosystem for Filipinos. Rohith Murthy, CEO of MoneyHero, said: 'We are excited to welcome RCBC as a partner on our platform. By combining MoneyHero's aggregation technology with RCBC's rich credit card portfolio, we are empowering Filipino consumers to make smarter financial decisions. This partnership continues our mission to simplify financial choices for consumers while supporting our bank partners in driving digital acquisition at scale. This partnership accelerates our penetration into regional markets, deepens user engagement, and highlights our asset-light, mutually-beneficially partnership-led growth model.' Arniel Vincent B. Ong, RCBC Credit Cards President & CEO, said: 'We're excited to partner with MoneyHero to offer our full suite of credit cards directly to consumers through a seamless digital experience. Our credit card business has shown exceptional momentum, with credit card receivables growing 48% and cards in force increasing 21% in 2024 alone, underscoring strong consumer engagement. This rapid growth in credit cards will make us a powerful partner for MoneyHero's expanding presence in the country. By integrating with MoneyHero's platform, we're making it easier for Filipinos to compare and apply for the card that best fits their needs, strengthening our commitment to innovation and financial inclusion.' About MoneyHero Group MoneyHero Limited (NASDAQ: MNY) is a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines. Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory. The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia's largest operating B2C platform. MoneyHero had over 290 commercial partner relationships as at 31 December 2024, and had approximately 6.2 million Monthly Unique Users across its platform for the three months ended 31 December 2024. The Company's backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving APAC's digital economy, please visit About Rizal Commercial Banking Corporation RCBC is a leading financial services provider in the Philippines offering a wide range of banking and financial products and services. RCBC is engaged in all aspects of traditional banking, investment banking, microfinance, retail financing (auto, mortgage and housing loans, and credit cards), remittance, leasing, foreign exchange, and stock brokering. RCBC is a member of the Yuchengco Group of Companies (YGC), one of the oldest and largest conglomerates in South East Asia. For more information, please visit About RCBC Bankard Services Corporation RCBC Bankard Services Corporation ('RBSC') manages credit cards, personal loans, and merchant payment solutions for Rizal Commercial Banking Corporation ('RCBC'). RCBC and RBSC are part of the Yuchengco Group of Companies, one of Southeast Asia's oldest and largest conglomerates. RBSC provides innovative cashless payments and versatile add-on services. For more information about RBSC, please visit For MoneyHero inquiries, please contact: Investor Relations:MoneyHero IR TeamIR@ Media Relations:MoneyHero PR TeamPress@ For Rizal Commercial Banking Corporation inquiries, please contact: RCBC Credit Cards:email@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Barnama
05-06-2025
- Business
- Barnama
MoneyHero and RCBC Forge Strategic Partnership to Tap into the Philippines' Expanding Card Market
SINGAPORE, June 5 (Bernama) -- MoneyHero Limited (NASDAQ: MNY) (MoneyHero' or the 'Company'), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, today announced a strategic partnership with Rizal Commercial Banking Corporation ('RCBC'), a trusted leader in Philippine banking known for its customer-focused innovation and inclusive financial services, through its card servicing entity, RCBC Bankard Services Corporation ('RCBC Credit Cards'). Through this collaboration, MoneyHero will integrate RCBC's full suite of rewards, lifestyle, travel, and premium credit card products into its digital platform, enabling Filipinos to seamlessly discover, compare, and apply for cards that suit their personal financial needs. This partnership significantly expands MoneyHero's credit card offerings in the Philippines and reinforces its position as the leading digital acquisition partner for banks and personal finance aggregation and comparison platforms in the region. By combining MoneyHero's digital conversion expertise with RCBC's strong growth momentum in consumer finance and strategic focus on data-driven innovation, the strategic partnership will improve customer experience and expand access to personal financial solutions. Together, they will advance a more inclusive and digitally empowered financial ecosystem for Filipinos.
