THE Bank of the Philippine Islands (BPI) announced last Tuesday two new digital efforts in an effort to decrease reliance of local businesses on paper documents when doing financial transactions.
The bank launched the Electronic Automatic Debit Arrangement (e-ADA) on its BizLink platform for corporate clients.
The e-ADA will allow digital enrollment for biller companies and their customers, thereby enhancing customer collection by reducing costs and providing better customer experience overall. BPI is the first bank to offer a fully digitized e-ADA enrollment experience.
“This new service eliminates the dependence on paper documents which come with manual enrollment to ADA. Electronic-based enrollments would allow for more accurate and convenient processing for both the company and the customer,” BPI Transaction Services Head Ana maria C. Sison said.
The lender also announced it has a new Bulk Check Deposit facility. This facility, it explained, allows corporate clients to process checks by scanning and depositing checks from their offices instead of going to the bank branches.
The bank said the new innovations are aimed at helping businesses streamline their processes, enhance customer experience, reduce costs, and lessen the chances of spreading Covid-19.
“The pandemic and the corresponding lockdowns have greatly accelerated digitalization among industries and established highly-digital customer behaviors. While we look forward to a Covid-free world, we believe that when it comes to digitalization, there is no turning back and businesses need to embrace it,” BPI Corporate Banking Head Juan Carlos L. Syquia said. “Digital is the way of the future.”