Bank of the Philippine Islands (BPI) president and CEO Cezar P. Consing said the bank’s digitalization efforts is currently going through an upgrade to a version he calls “2.0” in anticipation of higher online and mobile-based banking services even post-COVID-19 period, and it will cut costs both for the bank and its clients.
“BPI right now is done with digitalization stage ‘1.0’, we’re moving to ‘2.0’. I’m sure we’ll get to ‘3.0’ after that. But we intend to stay in front of this,” Consing said during the virtual 5th AYALA-Finex Finance Summit Part 2.
In a follow up email query, Consing said digitalization for BPI will be a continuing process. “We measure progress by the reduction in our cost-to-income ratio, all other things being equal. Broadly, getting from BPI Digital 1.0 to BPI Digital 2.0 should reduce our