BPI amplifies digital channels

MANILA, Philippines — Ayala-led Bank of the Philippine Islands (BPI) continued to amplify its digital channels by creating innovative banking solutions to make everyday banking transactions more convenient for its retail clients amid the COVID-19 pandemic.

Noel Santiago, chief digital officer at BPI, said the bank continued to innovate new digital payment options and ways to send and receive money.

“BPI is amplifying our digital banking features to address our clients’ everyday banking needs. With rising COVID-19 cases, it is important for the Bank to continuously offer services that prioritize the safety and convenience of our fellow Filipinos during these challenging times,” Santiago said.

The 170-year-old bank has made payment to different government agencies easier through BPI eGov.

Individual savings or checking account holders enrolled in BPI Online can use the facility to pay fees to commonly accessed agencies such as the Bureau of Internal Revenue, the Social Security System, the Department of Foreign Affairs, Pag-IBIG Fund, and the Philippine Statistics Authority, and more.

Clients could also access the BPI eGov website 24/7 through the BPI Mobile app.

Sending and receiving money digitally have become crucial in the retail industry during the height of the pandemic, as face-to-face banking transactions were reduced due to health and safety protocols.

To ease the challenges in making immediate and secure funds transfers, BPI is one of the first banks in the country to enable transfers via QR code, mobile number and email address.

Through InstaPay QR PH, BPI clients now send and receive funds to and from other banks via QR code. It also introduced the use of multi-proxy platforms to allow clients to transfer money to and from other local banks through the recipient’s bank-registered mobile number or e-mail address.

InstaPay is an interbank fund transfer service under the National Retail Payment System (NRPS) of Bangko Sentral ng Pilipinas letting clients electronically transfer funds between their BPI or BPI Family Savings Bank account and accounts from other participating banks and financial institutions in the country.

“BPI is at the forefront of digital innovation and security, enabling convenience for our clients. We want to empower our clients to do their financial transactions, while collaborating with other banks. We believe that these new features will make it easier for our clients shift their way of doing banking,” Santiago added.

The Ayala-led bank has also partnered with MLhuillier and Bayad for its remit-to-account facility allowing clients to receive cash deposits to their accounts from any of MLhuillier’s over 2,500 branches nationwide, and select Bayad centers across the country.

The service would soon expand to other remittance tie-up partners such as Palawan Express.