The Bank of the Philippine Islands (BPI) has always been at the forefront of adopting new technology. It has banked on digital transformation even before the term became a buzzword.
BPI took a huge step towards digitalization in 1983, when it introduced the first through-the-wall 24/7 automated teller machine or ATM network in the country. This revolutionized its customers’ personal banking experience, as they now had access to their cash from multiple locations at any time of the day.
In 1991, BPI launched phone banking with 89-100 (now 889-10000). Its interactive voice response system paved the way for self-service /convenience banking, empowering clients to pay bills, transfer funds and know their account balances without having to travel to a BPI branch.
And finally, in 1999, the bank offered online banking services to its customers. BPI’S online platform guaranteed a secured and convenient banking experience for the customers.
BPI’s digital evolution has been phenomenal. Since 2009, it has recorded a 656% increase of enrolled digital users and a 1,683% increase in transaction volume. In 2018, BPI revealed that they have a 37% penetration rate for its digital users.
BPI infrastructure has always been ready to adapt to technology in order to provide its customers an efficient and convenient 24/7 digital banking experience.
To date, the bank has launched 70 online banking features and 40 mobile app features. BPI Online and the BPI Mobile Banking app are the bank’s main platforms for digital users.
Five digital initiatives
This year, BPI is continuously upgrading its system and innovating solutions to provide more advanced services and capabilities to its clients.
In line with this, BPI has established a digital ecosystem that is founded on five pillars or initiatives:
Why is BPI embarking on all these? It’s because it’s committed to accelerating financial inclusion in the Philippines. At the same time, BPI is working hard to reshape behaviors to prepare everyone for the future of banking.