The Bank of the Philippine Islands (BPI) is the most recommended retail bank in the Philippines, according to the recently released BankQuality Consumer Survey on Retail Banks for 2022.
“Being recognized as the most recommended retail bank in the Philippines affirms the positive impact of our transformational efforts to further enrich and provide a differentiated and delightful customer experience. We aspire not only to meet our customers’ expectations, but to also merit their trust and endorsement to their family and friends. We remain committed to making the customers the focus of all that we do, from simplifying our processes to improving convenience and affordability to innovating products and enhancing digital capabilities for a seamless omni-channel experience,” said Ginbee Go, BPI Consumer Banking Head.
BPI also ranks as the 8th most recommended retail bank by consumers in Asia Pacific, according to the results of the BankQuality survey, which was conducted by The Asian Banker, a leading provider of strategic intelligence on the financial services industry.
The survey interviewed 11,000 bank customers in 11 markets across the Asia Pacific region on their engagement, experience, and satisfaction with their main retail banks.
The Asian Banker noted that customers who strongly recommended their main retail banks in its BankQuality survey this year did so because of the “convenience in online account registration, zero-fee transactions, fast fund transfers, personalised products, sophisticated mobile app user interface, and the sense of security they have with their banks.”
BPI’s Consumer Banking segment addresses the individual and retail markets, and covers deposit taking and servicing, consumer lending, such as home mortgages, auto loans and credit card finance, as well as the remittance business.
This past year alone, BPI has introduced quite a number of digital enhancements that included making available its deposits, investments and auto insurance products through the GCash platform, enabling digital deposit account opening through the mobile app, enhancing cybersecurity through the mobile key and customer-controlled transaction limits setting and allowing for international remittance and transfers.
The Bank also recently launched a promotion to expand its retail loan portfolio with in-branch activities, complementing its digital retail facilities. In 2021, BPI’s Auto Loan portfolio recorded a sharp growth in terms of bookings at 37 percent versus the previous year. The Housing Loan portfolio, for its part, registered a 10 percent increase in 2021 versus the year before. BPI has embarked on a Phygital transformation that combines the power of its wide branch network and cadre of financial advisers with its digital assets and capabilities.