BPI aims for 40% digital banking adoption rate in Davao This 2019
The Bank of the Philippine Islands (BPI) is aiming to increase the number of users of its digital channels from 31% to 40% by the end of the year, reflecting the Bank’s push for greater financial inclusion in the Davao region.
BPI President and CEO Cezar P. Consing said increasing the proportion of clients using digital channels will spread the benefits of digitalization to the underserved and unbanked as well as allow the Bank to engage, empower, and enhance client experience.
“Digital financial inclusion captures the essence of what we are trying to do, as we aim to be the most financially inclusive of Philippine banks,” said Consing.
“It’s a combination of ‘high tech and high touch’. It will be ‘high touch’ in the branches where we want to engage clients in real conversations regarding their financial matters. While for every day banking, we want to shift them to high tech, meaning our online facilities and mobile app,” said Mr. Consing.
In Mindanao, many still prefer to visit the branch or carry cash. Bank transfers or deposits and bills payments are two of the most frequent transactions in the branches. These, however, can be done much more conveniently and securely through the online portal or the mobile app.
BPI Chief Operating Officer Ramon Jocson said the branches and the digital channels will complement each other to deliver enhanced customer experience.
“We want our clients to go digital and experience efficient, frictionless transactions between digital channels and the branches. It will empower clients and, at the same time, allow us to be more attuned to their needs, able to offer relevant and timely financial services,” said Mr. Jocson.
BPI is opening another branch in September, an addition to the current 30 BPI, BPI Family Savings Bank, BanKo branches, and branch lite units in the region.
Through its microfinance arm, BPI Direct BanKO, Inc. (BanKO), BPI is also enabling and empowering self-employed micro-entrepreneurs (SEMEs) in the region. It will soon be the first digitalized bank in the country truly focused on this undeserved and unbanked segment.
“BanKo is being fitted with full digital capabilities. It will be a good example of two marriages: the marriage of branch and digital, and the marriage of digitalization and financial inclusion,” Mr. Consing added. (PR)