THE Philippines' first embedded finance initiative for overseas Filipino workers (OFWs) through the collaboration between Rizal Commercial Banking Corporation (RCBC) and Hungary-based fintech Peak Card Services Ltd. (Peak) and Columbus Private Equity Fund (Columbus) was announced during the series of events organized for the celebration of the 50th anniversary of the Hungary-Philippines diplomatic relations in Manila.

The partnership would soon enable OFWs to download the Peak mobile app with RCBC embedded digital banking platform, allowing them to open an RCBC peso and Hungary foreign accounts in a single app assisting them in managing their finances while working abroad and supporting their family back home.