Updated: August 6, 2021
Bank of the Philippine Islands (BPI) marks its 170th anniversary this August with an extra focus on customer service, digitalization and sustainability.
BPI President and CEO TG Limcaoco said the bank will create new digital platforms, institutionalize culture change that focuses on the customer, and commit to reduce its financing for dirty energy projects.
“Just as in the past, BPI has been at the forefront of innovation and has been part of the country’s economic development at crucial times in history. We are honoring this heritage in our anniversary by articulating bold ambitions and setting lofty goals that will help build back a better, more inclusive Philippines,” said Mr. Limcaoco.
He said the theme of the bank’s 170th anniversary – reinvention – captures what the bank needs right now amid the pandemic.
As part of its digitalization journey, BPI will enhance its existing digital platforms to deliver delightful customer experience to customers. BPI will also be introducing other apps to specifically cater to the different market segments and customer journeys.
Mr. Limcaoco said enhancements will be introduced to BPI Online and BPI Mobile for retail clients, the BanKo app for microfinance clients, and BizLink for corporate clients. An app for SMEs and for payments and loyalty are also planned for launch.
“Aside from our digital platforms, part of our digitalization journey is the rationalization of our branches. We are studying the customer journey of our clients and reimagining possibilities in the branches, which will no longer be a place for chores, but a place where high-value interactions involving more complex financial needs happen,” said Mr. Limcaoco.
As for customer service, there will be a reinvention of mindsets, or the way employees think and act, particularly towards clients.
“Let’s do it right, let’s make it easy, and let’s be nice. That’s our simple mantra, but it will be supported by a campaign that involves simple action statements based on our company values. We will have a new mission and purpose that will exemplify what we need to be and what we need to do for our clients,” he said.
Sustainability is also an integral part of this reinvention. For BPI, its formula is simple: ESG + E. It is a unique formula that doesn’t only account for Environmental, Social, and Governance principles, but also the final E, which refers to economic growth.
“We cannot be truly sustainable if we do not consider economic growth both for our customers and for our country. That is why we are integrating ESG + E criteria in all our KRAs, or key result areas, within various groups in the bank,” said Mr. Limcaoco.
By 2026, BPI commits to halve its coal financing in its portfolio, and reduce it to zero by 2037.
Part of this commitment to sustainability is BPI Direct BanKo (BanKo), which is the microfinance arm of the bank.
“Microentrepreneurs form the backbone of our economy and the more we support them, the better for our country. When we help microentrepreneurs by giving access to affordable loan products to fund their operations, we give them an opportunity to grow and expand their business, which redounds to the country’s economic growth,” he said.
As of June 2021, BanKo has served a cumulative 181,067 customers, released P22.12 billion in loans, and opened 307 branches nationwide since 2017 when the bank was established.
“Our 170th anniversary isn’t just a milestone to be celebrated. It is an impetus for continuing to push and reinvent ourselves. Our digitalization journey reinvents how we interact with our clients, customer service reinvents our thinking about ourselves and our customers, sustainability reinvents our commitment to the country and to the world,” said Mr. Limcaoco.
This is a press release.