{"id":37815,"date":"2022-09-30T17:06:28","date_gmt":"2022-09-30T09:06:28","guid":{"rendered":"http:\/\/www.teampcheng.com\/blog\/?p=37815"},"modified":"2022-09-30T17:06:34","modified_gmt":"2022-09-30T09:06:34","slug":"banko-ramps-up-digitalization-efforts-to-reach-more-filipinos","status":"publish","type":"post","link":"http:\/\/www.teampcheng.com\/blog\/lifestyle\/banko-ramps-up-digitalization-efforts-to-reach-more-filipinos\/","title":{"rendered":"BanKo ramps up digitalization efforts to reach more Filipinos<\/strong>"},"content":{"rendered":"\n

The Bank of the Philippine Islands (BPI) continues to empower the Filipino people through the sustained digitalization of BanKo, its microfinance arm.<\/p>\n\n\n\n

\u201cDigital banking has become a necessity now. This is the reason BanKo continues to innovate the way we deliver our products and services to benefit self-employed micro-entrepreneurs (SEMEs) and underserved individuals,\u201d Rod Mabiasen, Senior Vice President of BanKo, said during #BPITechTalk, a one-hour, monthly media roundtable series.<\/p>\n\n\n\n

BanKo Mobile is designed as a convenient mobile app that allows clients to fulfill their banking needs\u2014including opening an account; applying, monitoring and paying loans; buying load; paying bills; and sending money\u2014anytime and anywhere.<\/p>\n\n\n\n

The BanKo app also houses competitive products and services such as TODO Savings, a high-interest earning digital savings account; and NegosyoKo Lite for business loans as low as P10,000 with simple requirements.<\/p>\n\n\n\n

With its digital onboarding, clients can now quickly open a TODO Savings account online with one valid ID. There are also no deposit and maintaining balance requirements, and no dormancy fees. TODO also comes with 4% interest rate p.a. to maximize savings.<\/p>\n\n\n\n

Applying for a loan is also made easier with BanKo\u2019s digitally assisted lending feature, NegosyoKo Lite, where clients can apply for a loan for as low as Php10,000.  By lowering the loan amount, BanKo aims to serve more SEMEs including those belonging to the SEC D market which is comprised of an estimated 3mn individuals. Clients just need to present one valid ID, a photo of their store, and business permit to apply.<\/p>\n\n\n\n

\u201cWith our increasing digital capabilities, we are able to make everyday banking easier and more accessible to SEMEs and the masang Pilipino<\/em>. We aim to uplift the lives of more Filipinos and, ultimately, share in the mission of building a better Philippines,\u201d Mabiasen said.<\/p>\n\n\n\n

Since 2016, BanKo has been helping SEMEs and unbanked individuals by providing access to simple, convenient, and affordable financing alternatives.<\/p>\n\n\n\n

In 2021, BanKo granted Php9 billion in loans to micro-entrepreneurs, demonstrating the bank\u2019s commitment to help small business owners as they recover from the adverse effects of the pandemic.\u00a0These micro-entrepreneurs are part of more than the two hundred thousand SEMEs BanKo has been serving since 2016.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Bank of the Philippine Islands (BPI) continues to empower the Filipino people through the sustained digitalization of BanKo, its […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2730],"tags":[8020,7496],"class_list":["post-37815","post","type-post","status-publish","format-standard","hentry","category-lifestyle","tag-banko","tag-bpi"],"yoast_head":"\nBanKo ramps up digitalization efforts to reach more Filipinos - Team PCheng<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.teampcheng.com\/blog\/lifestyle\/banko-ramps-up-digitalization-efforts-to-reach-more-filipinos\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BanKo ramps up digitalization efforts to reach more Filipinos - 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