As the Bank of the Philippine Islands (BPI) celebrates its 100-year presence in Cebu City, it proudly announces a major milestone. On August 5, 2024, BPI launched a transformative partnership with Prince Retail Group and Prince Stores Group, marking a significant leap towards financial inclusivity.
Together with our retail partners, we are defining what it means to bank, reach, connect, and thrive
Teodoro Limcaoco
President and CEO
Bank of the Philippine Islands (BPI)
This transformative banking service, which allows BPI account holders to deposit and withdraw cash at any Prince Express and Prince Hypermart retail store, is a significant leap towards financial inclusivity. It brings essential financial services to Filipino communities, especially the unbanked population, empowering them with access to banking services they previously did not have.
“Last year, we partnered with retail giants in the country to offer more Filipinos easy access to BPI products such as savings accounts, credit cards, auto, housing, personal loans, and insurance products. This year, partner stores will also begin serving existing BPI account holders, allowing them to deposit and withdraw cash from the nearest partner store. Together with our retail partners, we are defining what it means to bank, reach, connect, and thrive,” cites Jose Teodoro Limcaoco, BPI President and CEO.
May BPI at any Prince Express and Prince Hypermarket
The launching of this groundbreaking initiative in Cebu was led by BPI President and CEO Jose Teodoro Limcaoco together with key BPI officers like BPI Agency Banking Head Rally Jereza, BPI Consumer Banking Head Ginbee Go, Agency Banking of BPI Marketing Officer Cee Cortez.
At these events, BPI officials and key officers of its retail store partners demonstrated the ease and convenience of making a banking transaction, such as a deposit or withdrawal, at the retail store partner. They explained that BPI account holders can simply present their government-issued ID and provide their active registered mobile number to the store staff, who will then facilitate the transaction.
Prince Stores Group President Nelson Go and VP for Finance Blake Go attended the launch at Prince Express in Barangay Gun-ob, Lapu-Lapu City. “This partnership with BPI is a game-changer. By integrating banking services into our stores, we enhance convenience for our customers and contribute to local financial inclusivity,” said Blake Go.
At the Prince Hypermarket in Minglanilla, Prince Retail Group CEO Robert L. Go, Chief Merchandising and Marketing Distribution Officer Rina Go, and Chief Finance Officer Rissa Go highlighted the partnership’s benefits. “Combining our strengths with BPI allows us to offer unparalleled value and innovative solutions, enhancing the shopping experience for all our ‘Suki’ customers,” said Rissa Go.
Streamlining transactions
Agency banking represents a significant stride in BPI’s ongoing mission to enhance banking accessibility. By integrating banking functions with everyday retail experiences, BPI sets a new benchmark in the Philippine banking sector. This service not only extends to individuals who are currently unbanked but also enriches the banking experience for existing BPI customers.
“Leveraging BPI’s digital capabilities alongside our retail partner’s extensive store network allows us to offer more accessible and convenient banking services,” noted Rally Jereza, BPI Agency Banking Head.
The expansive service simplifies cash transactions by leveraging the extensive network of retail locations such as Prince Hypermart and Prince Express. This approach addresses a common challenge many Filipinos face: they need more accessible access to traditional bank branches and ATMs and remove the intimidation or fear of transacting inside a bank. By embedding banking services into retail environments, BPI is making it easier for customers to perform essential transactions within their own communities.
Using the new service is straightforward: BPI account holders simply visit a participating partner store, present a government-issued ID, and provide an active registered mobile number. This process ensures ease of use and reinforces BPI’s commitment to customer-centric solutions.
Now is the time to open a BPI savings account. May BPI sa Prince Express and Prince Hypermart. For more information, visit the official Facebook page of BPI.
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