BPI introduced its digital banking platform dedicated to helping MSMEs manage their finances.
BPI — On Wednesday, the Bank of the Philippine Islands introduced its digital banking platform dedicated to helping micro, small, and medium enterprises (MSMEs) manage their finances.
In a virtual briefing, BPI head of Transaction and Services Division Ana Maria Sison told reporters that its BizKo digital banking platform is a subscription-based platform for MSMEs which offers an integrated online system for collection and invoicing in order to help with their cash flow and other banking needs.
According to BPI, what makes BizKo unique from the existing corporate online banking platforms is that MSMEs don’t need to deposit a balance in order to use the service, therefore freeing cash to grow their operations.
MSMEs just need to enroll in the service, which is available on the web and on mobile devices. Also, enrollment is fully online with no need to submit additional documents.
With BizKo, the bank said that users can request for payment, create invoices, perform bank transfers, pay employees, provide payment links, pay government fees, and create transaction reports, among others.
BPI head of Business Banking Eric Luchangco said that the services “streamline” processes and lessens the need to move funds from bank to bank as well as physical trips to banks, thus, saving MSMEs time and money.
“We launched BPI BizKo to make business transactions more seamless and efficient for MSMEs, enabling them to save both time and money, even amid the uncertainties today,” he said.
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According to BPI, the subscription rate starts at PHP 50 per month for classic plans and PHP 100 per month for the premium plan.
The bank also said that the BizKo app, which will officially launch on March 10, is now available for download via Apple App Store and Google Play Store or via its official website.
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