Bank of the Philippine Islands, the fourth-largest bank in terms of assets, has teamed with leading digital money transfer service WorldRemit to enable millions of Filipinos working overseas to send money easily to their relatives in the Philippines.
WorldRemit customers send almost 700,000 transfers every month to over 140 destinations around the world. The company is currently processing 74 percent of all transfers to mobile money accounts coming from money transfer operators, according to 2016 GSMA data.
BPI, meanwhile, has been a long-time champion of financial inclusion and pioneered much of the rural banking seen across the Philippines today. Its extensive branch network has over 800 branches and over 2,000 ATMs in the Philippines.
WorldRemit customers since starting its operations in the country in September 2011 have completed 4.5 million money transfers to the Philippines.
