Wednesday, February 1, 2023

With BPI and Lazada, you can shop and bank all in one place

“We envision our partnership with Lazada as a stepping stone in BPI’s strategy – extend the Bank’s reach and presence, and provide access to our products and services to more Filipinos. We started with the core products of the Bank: #SaveUp, credit cards, and auto, housing, and personal loans, but we intend to expand both the BPI products available in our Lazada Flagship Store and our distribution partnerships, be it physical or digital.” ~Jose Teodoro K. Limcaoco, BPI President and CEO
BPI and Lazada Philippines Communications Teams

In partnership with Lazada, the Bank of the Philippine Islands (BPI) opens the official BPI Flagship Store in LazMall, blazing yet another trail in Philippine banking.

The most sought-after BPI products are made available through the platform as a result of the first-of-its-kind partnership between the oldest bank in the Philippines and one of Southeast Asia's largest e-commerce companies. Filipinos can now apply for credit cards, deposit accounts, auto, home, and personal loans from any location thanks to this initiative.

BPI President and CEO TG Limcaoco; Lazada CEO Carlos Barrera; BPI Agency Banking Head, Rally Jereza

Because the BPI Flagship Store follows the platform's standard purchasing procedure, banking and shopping there feel natural. In Lazada, Filipinos can now “add to cart” BPI products and buy them like they would a new pair of shoes or a new supply of their essentials. Once applications are either approved or booked, the five-step application process for these products is also accompanied by rewards in the form of Lazada gift cards.

BPI CEO and President, Teodoro Limcaoco

Lazada Philippines CEO Carlos Barrera

BPI's promise to reach more Filipinos with its products and services includes this initiative. Partnering with platforms like Lazada expands the Bank's reach and provides additional access points for Filipinos to obtain banking products and services. This is done in addition to the Bank's more than 750 branches, over 2,000 ATMs, and the rapid development of mobile banking technology.

By integrating banking into Filipinos' day-to-day lives through new channels, BPI hopes to change the way Filipinos bank through its Agency Banking Group. BPI will ultimately redefine the standard for convenience and accessibility in banking by adding established agent stores that are convenient stops for Filipinos to its traditional brick-and-mortar branches and robust online channels.

"We trust that, through the Agency Banking model, Filipinos will be able to bank the way they want to, wherever they are, giving them their channel of choice. Banking will be naturally integrated in their daily lives – from buying medicine in the nearest drugstore to online shopping in Lazada, BPI will be there.” ~Rally Jereza, Head of BPI Agency Banking

Mr. Rally Jereza, Head of BPI Agency Banking

By bringing together shopping and banking in a single location, the ground-breaking partnership between BPI and Lazada aims to provide value to customers of both companies.

With more groundbreaking partnerships to look forward to, BPI Agency Banking’s battle cry rings loudly:

“May BPI dito! May BPI kahit saan!”

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