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BPI expands digital ecosystem to boost banking convenience

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Mon Jocson, BPI Chief Operating Officer

The Bank of the Philippine Islands has enhanced its digital ecosystem to provide a more convenient and secure banking experience to its more than 8.5 million local clients.

Among the services that BPI introduced along with the said announcement are new features on its website and mobile applications including sending money to client’s own accounts and other enrolled accounts through QR code, managing investments, and debit card control such as setting withdrawal and purchase limits, blocking cards, and disabling international access. BPI users can now also set brand appointments in advance through the website.

The 168-year old bank has also launched the country’s first conversational banking app dubbed as Bea, intended to give BPI clients a personal banker right at their mobile phones which can help them in banking processes like checking account balances and transferring money.

With this, BPI is aiming to increase digital penetration among its clients from 42 percent to 50 percent by the end of the year.

“This digital ecosystem will enable our clients to shift to digital behaviors for their everyday tasks,” said Mon Jocson, BPI Chief Operating Officer. “Digital transformation is not just about applying technology. It’s also about changing mindsets and culture, from the inside out.”

Jocson shared that part of the company’s ongoing efforts to digitalization is involving and training 16,000 of BPI employees to deliver better customer service.

“If 40% of our functions now that are being served in the branch are moved to the app, we need to make sure that people in the branches are equipped to have high-value discussions with you. That’s digital transformation,” Jocson said.

“At the end of the day, although you’re digital, humans are still needed to be able to define value. In fact, a very important part of our initiative is that we need to get 16,000 of our employees into the digital bandwagon. Not only understanding, but also knowing what their role is,” he added.

BPI has also collaborated with fintech providers and online merchants including GCash, PayMaya, and Lazada, among others to bolster open banking. Currently, BPI has nine partner apps and websites and 36 open banking services.

“We’re looking at fintech providers as partners and not competitors. We want to be able to include our partners in expanding,” Joscon shared.

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