Bank of the Philippine Islands' President talks reinvention and digital ambitions
Asian Banking & Finance|Issue 111
CEO TG Limcaoco says that 6 million of BPI's clients now use digital channels.
Bank of the Philippine Islands' President talks reinvention and digital ambitions

For Southeast Asia’s oldest bank, reinvention and innovation are the key ingredients to how it remains one of the Philippines’ biggest banks since its establishment over 170 years ago.

In the modern era, Bank of the Philippine Islands has set its sights on an ambitious goal: to be the undisputed leader in digital banking.

“The pandemic has accelerated digital banking adoption among Filipinos, and all indicators say that there’s simply no turning back. If we truly want to be the Philippines’ undisputed banking leader, we must ensure that each and every one of our customers, without exception, has digital access to our services and products,” Jose Teodoro “TG” Limcaoco, president and CEO of BPI, told Asian Banking & Finance in an exclusive interview.

Since assuming the leadership of BPI in 2022, Limcaoco has pushed BPI’s position as a pioneer in local banking — the very quality that has allowed it to thrive in every era.

“We doubled down on digitalisation over the past two decades as online banking transformed into mobile banking. We brought banking services that were only available on desktops to smartphones,” he said.

“BPI’s spirit of innovation has enabled the bank to become a pioneer in various aspects of banking. In the 1980s, BPI launched the Express Teller system and introduced the first 24-hour ATM service in the Philippines. We later on launched the country’s first debit card system. In the 1990s, BPI began offering phone banking and then introduced Express Online,” Limcaoco added.

More recently, BPI introduced the mobile wallet in 2012 for retail payments, the country’s first bank-initiated contactless payment system.

Diese Geschichte stammt aus der Issue 111-Ausgabe von Asian Banking & Finance.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der Issue 111-Ausgabe von Asian Banking & Finance.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS ASIAN BANKING & FINANCEAlle anzeigen
Embedded Finance, Digital Banks To Drive SEA's Fintechs
Asian Banking & Finance

Embedded Finance, Digital Banks To Drive SEA's Fintechs

Embedded finance, partnerships, and digital banks will be the three defining trends shaping Southeast Asia’s financial technology (fintech) landscape in the future.

time-read
1 min  |
Issue 114
UBC Aims For Top 5 In Sri Lanka Banking
Asian Banking & Finance

UBC Aims For Top 5 In Sri Lanka Banking

Chairman Nirvana Chaudhary is prepared to lead amidst a national finance crisis.

time-read
3 Minuten  |
Issue 114
What Makes Malaysia The Next Great Investment Banking Frontier In Southeast Asia?
Asian Banking & Finance

What Makes Malaysia The Next Great Investment Banking Frontier In Southeast Asia?

EVs, takaful insurance, and its proximity to Singapore attract investment activity, according to a BofA executive.

time-read
3 Minuten  |
Issue 114
How HomePay Is Combating Renovation Scams In Singapore
Asian Banking & Finance

How HomePay Is Combating Renovation Scams In Singapore

Money is put in an escrow account and disbursed when milestones are reached.

time-read
3 Minuten  |
Issue 114
Will Property Woes Continue To Weigh On Chinese Megabanks?
Asian Banking & Finance

Will Property Woes Continue To Weigh On Chinese Megabanks?

This year, Chinese megabanks are facing two big hurdles: the government’s mandate that may force banks to take on more risks in the name of propping up China’s embattled property sector; and declining credit demand and interest rates.

time-read
2 Minuten  |
Issue 114
How Have Banks' Wealth Management Pivots Played Out In China?
Asian Banking & Finance

How Have Banks' Wealth Management Pivots Played Out In China?

There’s up to $25b in fees to be made in Asia, but it’s a tough market, an analyst said.

time-read
5 Minuten  |
Issue 114
Why Singaporeans are okay with locking away over $4b of their money
Asian Banking & Finance

Why Singaporeans are okay with locking away over $4b of their money

Customers can only access 'locked' money with a physical card or by visiting a branch.

time-read
2 Minuten  |
Issue 114
OCBC builds the the next pipeline of talent
Asian Banking & Finance

OCBC builds the the next pipeline of talent

Lim weaves in support for women bankers to broader industry talent shortage.

time-read
3 Minuten  |
Issue 114
Banks flip the tables on disruption by becoming the disruptors themselves
Asian Banking & Finance

Banks flip the tables on disruption by becoming the disruptors themselves

Companies are facing not just tech transformations but also shorter skill lifespans for their workforce.

time-read
3 Minuten  |
Issue 114
Basel III capital hike is not a problem for APAC
Asian Banking & Finance

Basel III capital hike is not a problem for APAC

Most of banking jurisdictions in most Asia Pacific markets should be able to absorb the moderate increases in capital requirements stipulated under the final Basel III standards.

time-read
2 Minuten  |
Issue 114