Dubai-Based RAKBANK, BDO and Ripple Teams up for Remittance to the Philippines
by Fintech News Philippines February 28, 2020Dubai-based bank RAKBANK recently enhanced its current remittance footprint in the Philippines by partnering with BDO Unibank, a full-service universal bank in the Philippines. The Bank’s RAKMoneyTransfer (RMT) services will now enable customers to make instant, frictionless, and secure money transfer services to any bank account in the Philippines through RippleNet.
Peter England
Peter England, RAKBANK CEO, said,
“We, at RAKBANK, are committed to increasing our international remittance footprint and are delighted to enhance our RMT services into the Philippines, thanks to our partnership with BDO. This partnership aims to offer the Filipino expat community here in the UAE the ability to safely and instantly remit money back home at competitive rates with zero back-end charges and no hidden fees.”
BDO Unibank for its part says its connection to RippleNet has broadened its worldwide reach to financial institutions and clients. Through RippleNet, BDO Unibank is now connected to RAKBANK, which has become Philippine’s bridge to offering banking and financial services to the Filipino expat community in the UAE.
RippleNet’s global network of banks and financial institutions enables secure, faster, and lower-cost payments around the world. The transactions can be done using the RMT service via RAKBANK’s award winning digital banking platform. The comprehensive digital service is available 24X7 all year round.
