RCBC, Fil-Am business community strengthen digital financial bridge between US, PH

Rizal Commercial Banking Corporation (RCBC) strengthened its engagement with the Filipino-American business community at the International Asian American Business Expo (IAABE), held from August 7 to 8, 2026, at the Torrance Marriott Redondo Beach in California, as the bank seeks to expand digital financial channels connecting Filipinos in the United States and the Philippines.

Left Photo: RCBC Executive Vice President and Chief Innovation and Inclusion Officer Villanueva during his keynote speech addressed to the Filipino-American business community. 

Right Photo (From L-R): Jose Carlo Eufemio, FVP, Go-To Market & Growth Division Head, RCBC; Michael Christopher Cruz, FVP and Division Head, Usage & Strategic Businesses, RCBC; Cindy Damarillo Vice President of Finance and Operations of BahAI deals; Gerry Palon, President and CEO of the Coalition of Filipino-American Chambers of Commerce; Lito Villanueva, Executive Vice President and Chief Innovation and Inclusion Officer, RCBC; and Paolo Gilbuena of Bahai Deals.

Representing RCBC at IAABE, Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva delivered an opening keynote highlighting the bank’s growing suite of digital financial solutions for Filipinos overseas, including the U.S. Virtual Account through RCBC Pulz and the MySSS Card powered by RCBC DiskarTech.

Villanueva positioned the services as part of RCBC’s broader efforts to address the financial needs of the Filipino diaspora, including easier access to banking, social security services, and cross-border transactions. An estimated 500,000 Filipinos live in the Los Angeles area, forming one of the largest Filipino communities in the United States.

During the event, Villanueva also announced that transfer fees for transactions through the U.S. Virtual Account on RCBC Pulz have been waived beginning August 1, further reducing the cost of moving funds through the cross-border banking service.

He further highlighted the economic significance of overseas Filipinos, noting that remittances account for more than 7.3% of the Philippine economy in 2025 and continue to support millions of households across the country.

“When something hits 7% of a nation’s GDP in most industries, that’s not a category anymore. That’s the whole industry. And it deserves to be treated that way—not as a footnote in a remittance report, but as a core national infrastructure built by people, run frankly on love,” Villanueva said.

Villanueva said the scale of overseas Filipino remittances reinforces the need for financial institutions to continuously develop services that make banking across borders easier and more relevant to Filipino families.

“RCBC has been around for 65 years, and we’ve learned that showing up for a Filipino family means showing up for the moments that matter most. The first house, the first business, the day someone leaves to go build a better life somewhere else,” he added.

The engagement also opened discussions with Filipino-American business leaders on opportunities to further strengthen financial connectivity between the two countries. Participants raised potential use cases involving real estate payments from the United States to the Philippines, as well as the capability to facilitate transactions from the Philippines to the U.S.

The conversations reflected growing interest from the diaspora business community in collaborating on initiatives that could broaden the reach of digital banking services and create more efficient financial links between the two markets.

The IAABE engagement builds on RCBC’s continuing outreach to Filipino communities in the United States. Earlier this year, Villanueva met Philippine Consul General to San Francisco Arnel Talisayon during a courtesy call that covered financial inclusion and cross-border banking opportunities for Filipinos in Northern California. 

Villanueva also joined the Philippine Independence Day celebration in Los Angeles led by Philippine Consul General Adelio Angelito Cruz, where he engaged Filipino community and business leaders.

Left: Consul General Arnel G. Talisayon (second from left), together with Consul Rowena Pangilinan-Daquipil (leftmost) and Philippine Trade and Investment Center – Silicon Valley representative Rosalie Say (rightmost), received Rizal Commercial Banking Corporation (RCBC) Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva (second from right) during a courtesy call at the Philippine Consulate General in San Francisco.

Right: Philippine Consul General to Los Angeles Adelio Angelito Cruz (left) welcomes RCBC Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva during the 128th Philippine Independence Day celebration in Los Angeles.

These engagements complement RCBC’s existing financial inclusion initiatives with the Department of Migrant Workers (DMW) and the Commission on Filipinos Overseas (CFO), as the bank expands its efforts to make digital banking services more accessible to Filipinos regardless of where they live or work.

RCBC’s continued expansion in digital and cross-border banking comes as the bank secured its seventh consecutive “Best Bank for Digital” recognition from Euromoney, making it the first bank in Asia to achieve a seven-year winning streak in the category.