2019: BPI’s DIGITIZATION JOURNEY
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BPI 2019 Annual Shareholder’s meeting unveiled exciting news to the public
2019 is BPI’s Modern Digitalization Journey
During the 2019 BPI Annual Stockholders Meeting last April 25, 2019 at the Fairmont Hotel, the 168-year-old banking institution Bank of the Philippine Islands made their announcements towards their digitalization efforts.
After making notorious headlines a few weeks back from their faulty services due to the upgrading of the system, BPI has assured that the worst is behind them and that the upgrade is necessary to improve its services to the clients.
Investment on digitization efforts meant spending 11.6 Billion in tech for the last three years, with 1/3 of the amount devoted to building capability and capacity in innovative ways, in the aim to enhance the client experience in banking.
The digitalization investments allows a seamless experience in physical and digital, making it truly an omni-channel banking experience.
They have made changes to 21,000 programs, 15,000 codes, and more than 40,000 changes all in all.
New Ways of Banking
The large investment hopes that this can increase higher loan yields and better net interest margins for the loan portfolio as a whole. Not only that, BPI hopes to make the bank more inclusive and service more people through their mobile and digital platforms.
We were able to experience some of the new innovations BPI introduced in their systems:
1. Meet ‘BEA’
Short for BPI Express Assist, ‘Bea’ is a digital banking assistant that you can chat through text or voice to do some banking transations such as check your balance, transfer money, and more.
BizLink is BPI’s solution to
3. BPI App
4. Pay through QR
Do you know that you can pay cashless through the BPI app? There is a QR code feature in the BPI app that makes the cashless transactions faster and more convenient.
“I don’t know how to use an app, but I have money.”
One BPI customer said this during the 2019 BPI Annual Stockholder’s meeting.
The truth is, it’s a lot less expensive to serve digital consumers than traditional banking customers. There are a lot less overhead to think about: bank tellers, office space, accounting books, bank personnel, etc.
Digitalization is far-reaching with a higher bandwidth and 24/7 accessibility.
This year as well, BPI moved out of their 40-year-old HQ in Ayala Avenue in Makati. When it was completed in 1979, the HQ was the tallest and most advanced building in Philippines’ central business district at the time. Now, it is dwarfed by many other buildings surrounding it. BPI has made the decision to tear down an old building and replace it with a modern skyscraper to represent their confidence for the future.
Along with all these new technological efforts and developments, BPI also unveiled their new logo to show their stance for the future and what they stand for: Ready Today. Ready Tomorrow.
Any opinions on the new logo?
Apart from the many exciting news shared to us, this is also the the first time BPI has invited Cebu and Davao media in the esteemed Annual Shareholder’s Meeting. It is truly humbling to be part of the momentous event, and I am truly thankful to BPI and their hardworking Corp Comms team for this opportunity!
The Bank of the Philippine Islands (BPI) is the first bank in the country and in Southeast Asia. Established in 1851, it is now 168 years in business with an established history of client trust, financial strength and innovation.
A fully diversified bank and leader in the industry, BPI offers a broad range of products and services in consumer and corporate banking: including asset management, insurance, investment banking, foreign exchange, payments, leasing, securities and distribution.