AI-focused financial software maker extends deal with BPI

Tongdun Technology, an AI-focused provider of risk control services to financial institutions and insurance companies, said it has strengthened its partnership with BPI to help offer more digital banking solutions, in particular to unbanked communities in the country.

Tongdun Technology co-founder and partner Jackal Ma

According to the Q1 2019 Financial Inclusion Dashboard published by the Bangko Sentral ng Pilipinas, 533 cities and municipalities in the Philippines or 32.6 percent of the total remain unbanked.

To help address this problem, Tongdun and BPI are seeking to improve the numbers by developing and offering banking solutions that can serve as many Filipinos across the nation as possible.

Through the partnership, Tongdun will provide customized and omnichannel solutions that will enable BPI’s customers to access a wide range of financial products and services, including savings, payments, credit and insurance.

“Now that technology has made it possible to reach clients and markets previously untapped by digital services, we integrated artificial intelligence into risk management to provide our customers such as BPI with comprehensive intelligent risk control solutions. We are confident that our technology can help BPI be a catalyst in digitizing the Philippine banking ecosystem with an AI-led, omnichannel customer experience,” said Tongdun Technology co-founder and partner Jackal Ma.

Since the start of the two companies’ partnership last year, Tongdun has helped develop an automated lending process and optimized credit scoring model to strengthen BPI’s lending business for SMEs.

“With the challenges that the unbanked and underbanked communities face today, banking institutions need to provide a pathway to long-term and sustainable financial inclusion system. With our partnership with Tongdun, we are unlocking a wide range of financial products and services for our customers,” BPI president and CEO Cezar Consing added.

Facebook Comments