GCash teamed up with BPI to enhance accessibility to retail investments and financial services.
GCASH — The mobile wallet company recently teamed up with the Bank of the Philippine Islands (BPI) to further broaden its retail offerings and to provide customers with more opportunities to grow their funds.
This follows GCash’s move to make it possible for the Filipino people to avail of retail investment offers for as low as PHP 50 via GInvest, the investment marketplace featured on the app.
GCash President and CEO Martha Sazon said that they’re grateful for the partnership with BPI as they look forward to more collaboration between financial technology (fintech) and financial institutions moving forward.
Sazon also said that they’re hoping this can help them broaden investment opportunities for the Filipino people.
“By democratizing our products and making it more affordable and easier to understand, we can change the mindset that financial services such as investment funds and products are only for the wealthy,” Sazon said.
GCash, through its partnership with BPI, gives its customers the opportunity to invest in BPI Investment Management Inc.’s ALFM Global Multi-Asset Income Fund (GMAIF) and the Philippine Stock Index Fund under GInvest. Customers can then start investing for as low as PHP 1,000 in ALFM GMAIF.
BPI’s ALFM GMAIF presents a sound financial option given that it invests at least 90% of its assets into a single collective scheme, with investments including fixed income and equities.
Aside from the ALFM GMAIF, GInvest users can place a buy order for as low as PHP 50 in the Philippine Stock Index Fund, which tracks the performance of the Philippine Stock Exchange PSE) index.
Both BIMI (BPI Investment Management Inc.) funds are suitable for investors with aggressive risk appetites and have a 5-year investment horizon.
READ ALSO: BPI Intros Digital Banking Platform To Help MSMEs
Also, GCash has an existing partnership with ATRAM (ATR Asset Management Group), which manages some of the best-performing funds in the country such as trust assets, mutual funds, insurance portfolios, and real estate for proprietary and third-party clients.
Banks and other EMIs (Electronic Money Issuers) have seen GCash as a valued partner in expanding their retail investment offerings, an indicator of the trust placed by local financial institutions in the financial technology company.
“The value of fintech is being realized in retail finance; GCash is here to support financial institutions in expanding their offerings digitally through the 51 million Filipinos that use our app,” Sazon said.
Thank you for visiting Newspapers.ph. You may express your reactions or thoughts in the comments section. Also, you may follow us on Facebook as well.
How can I apply to save at BPI through GCASH