The Bank of the Philippine Islands, a leader in consumer and electronic banking, breaks new ground with the opening of the country's first direct bank -- the BPI Direct.
With BPI Direct, customers are provided a wide range of banking transactions and services anytime and anywhere, in a faster, more consistent and more cost efficient manner. Online financial products and services offered include: deposit products, loan applications, and bills payment. Soon to be introduced are stock trading and WAP mobile access.
In an era of fast-paced advances in computer and communications technology, BPI is committed to embrace new technology and lead the electronic revolution in banking.
BPI president Xavier P. Loinaz stresses: "These new technologies will now allow us to reach our customers in a totally different way through multiple channels."
The bank has always been at the forefront of new technology, having pioneered a lot of "firsts" -- the installation of the first ATM, the issuance of the first debit card, the establishment of banking kiosks, the introduction of telephone banking and the use of a Call Center, and the launch of Internet banking.
The country's oldest bank started off with its Internet banking platform two years ago with BPI.com.ph. This was purely an informational site, with no transactional capabilities.
With the launch of BPI Express Online last January, the first most advanced full Internet banking in the country was introduced. It is one of the most complete online financial services worldwide.
In response to changing market demands and in keeping pace with an electronically interconnected world, BPI now presents its latest Internet platform -- BPI Direct. With it, the bank offers not only basic services such as account information, funds transfer, stop payment, and check reorder, but also online application for new deposit accounts, credit card, and consumer loans.
BPI, the country's biggest bank following its recent merger with Far East Bank, is well positioned for the entry of e-commerce. Its bill presentment platform provides BPI Credit Card customers with their regular monthly statements via the Internet. It will soon include other merchants in its data warehouse and also consolidate bills for electricity, insurance, and telephone.
As the country moves quickly into the New Economy, BPI continues to elevate its level of customer service by providing efficiency and convenience with the use of technology.