Implementation of Cloud-based Banking Solution
BPI Direct BanKo, Inc., A Savings Bank, a subsidiary of Bank of the Philippine Islands (BPI), the oldest
and 3rd largest bank in the Philippines, implemented a savings & deposits (CASA) and QR Code payment
system based on BX MFS in 2018.
Due to its successful launch, Microfinance services, supporting loan origination, availment and loan management, were added in 2019, and is currently issuing more than 10,000 new loans per month through 300 branches and 1,000 agent outlets. A standout characteristic of the system is its ability to support agent banking – whereby financial services are delivered to customers by regular stores, such as pawnshops, similar to a regular bank branch –hence leveraging this network in lieu of the traditional branch network, which is underdeveloped in the Philippines financial environment
Due to its successful launch, Microfinance services, supporting loan origination, availment and loan management, were added in 2019, and is currently issuing more than 10,000 new loans per month through 300 branches and 1,000 agent outlets. A standout characteristic of the system is its ability to support agent banking – whereby financial services are delivered to customers by regular stores, such as pawnshops, similar to a regular bank branch –hence leveraging this network in lieu of the traditional branch network, which is underdeveloped in the Philippines financial environment
Through its diverse products and quality
customer service, BanKo achieved more
than 200% growth, and was awarded Best
Bank for Microfinance in 2019 for extending
banking and financial services to the
underserved.
BPI Banko Mobile Apps
