BPI expands reach with Lazada partnership

Bank of the Philippine Islands (BPI) plans to widen its services reach in the Philippines as banking continues to evolve.

BPI President and Chief Executive Officer (CEO) TG Limcaoco said this was the reason behind a partnership with Lazada that would allow the bank to offer its financial products online.

“I am excited for this partnership because this is our means of bringing BPI to everyone in the Philippines,” Limcaoco said. “In addition to this, we formed a team last year which aims to bring BPI to everyone via looking and working with partners in order to keep extending our reach. Lazada is the first of them.”

This will also allow the bank to access more of the country’s population, which in turn is aligned with the mission of building a better Philippines.

“The industry is indeed changing very fast so it is our duty to adapt as well. For our team, we will be looking at various opportunities in the ‘phygital’ (physical and digital) world as we try to bring our products and services to our possible customers,” Limcaoco added.

Lazada CEO Carlos Barrera said this was an opportunity to reach out to more Filipinos who are in need of bank services.

“After seven years in the Philippines, I’ve been trying to make banking one of the new offerings that we want to be known for,” Barrera said. “In addition to this, we are also building our digital goods category, and I’m very proud to start it with BPI.”

“I know many of you think of Lazada as the company where you buy your physical goods, but we want to be much more than that. Today, we think about the next frontiers and we have started building digital goods that focus on lifestyle such as finance, and among others,” Barrera continued.