The Bank of the Philippine Islands (BPI) and its subsidiaries won seven awards at the Asian Banking & Finance (ABF) Awards 2024.
Organized by the Asian Banking & Finance magazine, the ABF Awards honor outstanding banks in Asia that have introduced groundbreaking retail banking products and services, and are proven to be industry game-changers.
“We are honored to receive these awards from the Asian Banking and Finance, which reflect our strong commitment to providing excellent customer experiences across all touchpoints. With the hard work and dedication of our teams, we will continue to develop digital and sustainable solutions that bring value to our stakeholders, and help build a better Philippines — one family, one community at a time,” said TG Limcaoco, BPI President and CEO.
Championing financial inclusion
Under the ABF Retail Banking Awards 2024, BPI Direct BanKo, Inc., A Savings Bank (BanKo), BPI’s microfinance arm, won the “New SME Lending Product of the Year — Philippines” Award for NegosyoKo Loan.
The NegosyoKo Loan is offered to self-employed micro-entrepreneurs (SEMEs) to help them grow their businesses. Clients can choose between NegosyoKo Lite for loans ranging from Php 5,000 to less than Php 15,000, or NegosyoKo Loan for larger amounts up to Php 500,000, with terms ranging from 6 to 36 months.
BanKo and BPI’s Institutional Banking segment also partnered with Jollibee Foods Corp. (JFC) and Jollibee Group Foundation to offer the JFC Agri Loan Financing. This program provides small farmers who formally acts as suppliers to JFC with affordable financing and rewards one-time repayment with lower rates.
Recently, the bank partnered with agri-tech company Agrilever to launch the Agri NegosyoKo Loan Program, offering customized loans along with financial education, protection and security, personal and community engagement, a streamlined application process, and incentives for responsible behavior to Agrilever’s partner farmers.
As a result of these collaborative efforts, BPI won the “Corporate Client Initiative of the Year — Philippines” Award by the ABF Corporate and Investment Banking Awards 2024.
Embracing innovation in modern banking
Through the years, BPI’s Digital Channels has introduced innovative ways that transformed consumer experiences with its Open Banking ecosystem. As a result, BPI’s Digital Channels team was honored with the “Open Banking Initiative of the Year” Award. The bank’s open banking capabilities demonstrate agility in adapting to market changes and technological advancements, offering convenient, safe, and secure online banking.
With this recent recognition, Digital Channels illustrates its commitment to innovation, customer-centricity, and embracing new technologies while upholding the core principles of its goals and objectives, ensuring that BPI’s expanded ecosystem of relevant partners remains reliable and intuitive for the use of its valued clients.
Making it simple with Loans Marketplace
In the Retail Loans segment, BPI’s Loans Marketplace won the “Digital Consumer Banking Initiative — Philippines” Award. This pioneering digital platform simplifies the loan acquisition process, leading to increased customer engagement and surpassing initial targets, significantly boosting BPI’s digital loan application.
As the first one-stop shop in the Philippines, Loans Marketplace offers a seamless, end-to-end experience for customers seeking financing for their dream home or car. Loans Marketplace can be accessed via https://loansmarketplace.bpi.com.ph.
Achieving sustainability goals
Bringing home the Silver award in the “Environment, Social, and Governance (ESG) Program of the Year,” BPI’s Sustainability Office was recognized for managing the overall implementation, coordination, and monitoring of the Board-approved BPI Sustainability Agenda across all segments and groups of the bank.
BPI integrates ESG principles into its strategy and operations, offering products and services that benefit clients and other stakeholders and make a positive impact to the society and the planet.
One such product is the Green Saver Time Deposit, a five-year deposit with higher interest rates, flexible withdrawals, and a low initial deposit of Php 5,000, promoting social inclusivity. Proceeds support projects with clear environmental benefits.
Redefining convenience and financial accessibility
Meanwhile, BPI’s Agency Banking received the “Customer Experience Initiative of the Year — Philippines” Award. The bank launched Agency Banking in 2022 to expand its capability to reach, acquire, and serve more Filipinos by forging strategic partnerships with highly regarded players in the retail sector.
Agency Banking is an innovative initiative addressing customer pain points like accessibility, proximity, and customer experience. Through the “May BPI Dito” program, BPI products are available in partner stores, barangays, and on mobile phones.
Providing the best financing solution
Under the ABF Wholesale Banking Awards 2024, BPI Capital Corp., BPI’s investment banking arm, won the “Best Domestic Project Finance Bank of the Year” Award for its role as lead arranger in a major transaction. The firm structured a sale and leaseback deal for the acquisition of hundreds of telecommunication towers from a large telco. Executed in two months, the deal highlights BPI Capital’s ability to provide quick, customized solutions.
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