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What will BPI think of next?

February 19, 2023 Ignacio "Toting" Bunye 340 views

Ignacio BunyeBANKING and shopping just got easier, thanks to a pioneering tie-up between Bank of the Philippine Islands (BPI) and Lazada, one of the largest e-commerce operators in Southeast Asia.

Last month, BPI President and CEO Jose Teodoro “TG” Limcaoco and Lazada Philippines CEO Carlos Barrera shook hands on the launching of the official BPI Flagship Store in LazMall.

The BPI Flagship Store originally offered BPI merchandise such as BPI sports bar protein, BPI ID lanyard, BPI mini wooden coin bank (alkansiya), BPI mini wooden vault and even fashion ladies running shorts.

Now , the BPI Flagship Store offers BPI financial products, or more to the point, applications for financial products such as deposits, credit cards, auto loan, housing and personal loans. All the prospective customer has to do is click the appropriate box and “add to cart” and pay a P1 application fee upon checkout. After successful check-out, the customer will receive an email from BPI with instructions on how to complete the application. In the case of a deposit, upon successful application the customer’s account is opened in real-time. A confirmation email is sent to the customer with the reminder to make the initial deposit. Rewards in the form of Lazada gift cards are given once applications are approved or booked.

The BPI Flagship Store was initiated by BPI’s newly organized Agency Banking group, headed by veteran banker Rally Jereza. Mr. Limcaoco explained: “Through agency banking, BPI aims to change the way Filipinos bank by integrating banking in their daily lives through new channels. By supplementing its brick-and-mortar branches and online channels with established agent stores that are convenient stops for Filipinos, BPI aims to redefine the standard of convenience and accessibility in banking.”

He added: “We envision our partnership with Lazada as a stepping stone in BPI’s strategy (to) extend the bank’s reach and presence , and provide access to our products and services to more Filipinos. We started with the core products of the bank – #SaveUp, credit cards, auto, housing and personal loans -but we intend to expand both the BPI products available in our Lazada Flagship Store and our distribution partnerships, be it physical or digital.”

For his part, Mr. Jereza declared: “We trust that, through the agency banking model, Filipinos will be able to bank the way they want to, wherever they are, giving them their channel of choice. Banking will be naturally integrated in their daily lives. From buying medicine in the nearest drugstore to online shopping in Lazada, BPI will be there.”

Introducing BPI Wealth

BPI Asset Management and Trust Corporation, the wealth management arm of the Bank of the Philippine Islands (BPI), announces its new business name, BPI Wealth – A Trust Corporation, or simply, BPI Wealth.

A company announcement explains: “The move aims to better connect with various client segments and further communicate the company’s breadth of expertise as the trusted leader in the asset and wealth management space.”

Maria Theresa Marcial, President and CEO of BPI Wealth, elaborates: “BPI Wealth’s bold new identity and positioning is anchored on its strengths – robust investment process, unparalleled risk management framework, best-in-class investment professionals and wealth advisors, and a wide range of innovative investment solutions. The company also renews its commitment to deliver superior customer experience for its individual, corporate, and institutional clients.

“At BPI Wealth, we will continue to be your trusted partner in navigating volatile financial markets, in guiding investment decisions, in constructing portfolios, and in creating a legacy for future generations. We will continue to offer the best-in-class asset and wealth management solutions to enable you to live your best life.”

The company also unveils its new campaign, #liveyourbestlife, which echoes its commitment to empower customers to fulfill their highest aspirations with the help of BPI Wealth.

“We recognize that our clients want a name they can trust to address their complex financial needs. They want a name they can trust to help grow their hard-earned money. They want a name they can trust so they worry less about their investments, so they can do more, explore more, and live more. That is our brand promise,” said Ms. Marcial.