BPI’s digital ecosystem to boost online presence, digital penetration rate

The Bank of the Philippine Islands seeks to increase its digital penetration rate to 70% from 40%, BPI chief operating officer Ramon Jocson said in a press conference on Tuesday, October 29, 2019 in Makati City. BPI

The Bank of the Philippine Islands (BPI) is eyeing to nearly double its penetration rate for online users with the newly unveiled digital ecosystem.

The bank seeks to increase its digital penetration rate to 70% from the 40%, BPI chief operating officer Ramon Jocson said in a press conference on Tuesday.

“Digital transformation is not just about applying technology tools without changing the way we think of ourselves and our place in customers’ lives,” he said.

The new BPI digital ecosystem integrates open banking in BPI Digital Platforms such BPI Online and the BPI mobile application.

BPI has partnered with nine institutions to make available 36 services such as GCash, Lazada, and PayMaya.

Among the features of the upgraded digital banking service is appointments scheduling via BPI online, taking control of card usage through withdrawal limits, setting for international use, and temporarily blocking debit cards.

“This digital ecosystem will enable our clients to shift to digital behaviors for their everyday tasks,” Jocson said.

“We are trying to influence our clients to adopt digital behaviors and develop a digital culture, just as we inculcate the same in our workforce so we can enhance customer experience as well,” he added.

According to BPI, it registered 3.4 million users in 2018, a 930% leap in 10 years from 300,000 in 2008, equivalent to a 37% digital penetration rate. —VDS, GMA News