The 171-year-old Bank of the Philippines (BPI) is sunsetting its existing mobile app and replacing it with a new one. The new mobile app is already live and the bank urges its clients to download and use it for their transactions.
“While we look at the best technology and digital solutions to ensure that we deliver excellent service, we anchor the designed experiences to what our customers need,” said TG Limcaoco, president and CEO, BPI.
BPI is leveraging artificial intelligence (AI) to provide bank clients with tracking and insights. The app will offer financial advice, payment reminders, and actionable tips to help millions of Filipinos improve their financial wellness.
According to Ginbee Go, EVP and head of Consumer Banking at BPI, 90% of the bank’s transactions are done digitally or electronically. The other 10% are done in person in branches and these are clients who may want to apply for a loan or are interested in investments.
“We hope to further increase digital adoptions, especially among the younger (or Gen Z) generation,” Go said. “Our customers have the option to bank with the app in tandem with the bank’s branches and ATMs, giving them a choice of their preferred channel with integrated services like online booking of branch visits or cashless withdrawal.”
Clients can open a new account on the app within five minutes and it will require only one ID. BPI is also introducing Personal Finance Management next month.
BPI Consumer Platforms head Fitzgerald Chee pointed out that mobile app users do not have to delete their old app yet.
“You can continue to log in the older BPI Mobile app with your current username and password. Users that want to start enjoying the new mobile app can find easy-to-follow guides on our Facebook and YouTube channels,” Chee said.
He also explained that QR codes generated on the older mobile app are still going to work on the new one. “You can also view all your personalized settings, previous transactions, and statements right away on the new BPI app,” he said. “For your security, the Mobile Key works within the new app or the older one. Users can choose which app version to activate their Mobile Key.”
BPI also said they are working on web-based applications for those who prefer to do their digital banking transactions on a PC.