BPI eyes RPN 9, Channel 13

The Bank of Philippine Islands (BPI) has expressed keen interest in bidding for the two government-owned television networks in line with its effort to intensify its online banking activities.

BPI sources told The STAR that the bank is planning to participate in the sale of RPN-9 and Channel 13.

They said that after buying into Far East Bank and Trust Co. (FEBTC), BPI is now concentrating on developing further its information technology system which include investment in media.

"They might integrate it with its effort to bid in Channel 9 and Channel 13," sources said.

In line with this, BPI will also offer a new product which will allow the bank to deal with stock trading system.

In a separate interview, BPI vice president for information systems group Erwin Locsin said the new product will be a stand alone banking facility.

"It's part of the overall strategy to position the Ayala Group in the new economy," Locsin said.

Interested parties, he said, should open an account with BPI for a minimum deposit of P50,000. This money, which earns interest, will be used to invest in any stocks listed in the Philippine Stock Exchange.

All transactions, Locsin said, will be coursed through BPI Capital Corp. and depositors can buy and sell stocks though the Internet, the first bank to trade stocks through electronic banking.

BPI recently launched BPI Direct that provides customers with a wide range of banking transactions and services anytime and anywhere, in a faster, more consistent and more cost efficient manner.

BPI Direct also offers online financial products and services such as deposit products, loan applications, and bill payments.

Aside from online stock trading the bank also intends to introduce WAP mobile access.

BPI, the country's biggest bank following its recent merger with Far East Bank, is well-positioned for the entry of e-commerce, according to BPI president Xavier Loinaz.

"These new technologies will now allow us to reach our customers is a totally different way through multiple channels," Loinaz said.

The bank, Loinaz said, has always bene at the forefront of new technology, having pioneered a lot of "First" the installation of the first automated teller machine, 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.