Bank of China launches digital forex for firms

Bank of China (BOC) Manila has launched a new feature on its digital platform that makes it easier for clients to access foreign exchange products and services at their convenience.

Through the iGTB (intelligent Global Transaction Banking) FX online, Bank of China now allows clients to conveniently convert multiple foreign currencies including the Chinese renminbi (RMB), US dollar (USD), euro (EUR), and Hong Kong dollar (HKD) to Philippine peso (PHP).

The platform provides a full range of services to corporate clients through an interactive online experience which includes operating account inquiry, payment, payroll, liquidity management, supply chain finance and information management.

It also features regularly updated exchange rates to ensure these remain competitive throughout the day.

As part of its strategy, Bank of China continues to offer convenient and excellent customer service across all client touchpoints.

Its innovative features are another step forward in the bank’s digital transformation journey to find new ways to engage with clients.

By leveraging new technologies and putting client needs above all, Bank of China continues to transform the way it serves its customers.

Last year, BOC launched the first mobile app with realtime RMB forex conversion in the Philippines, allowing individual clients to convert PHP to RMB, USD, and EUR in real-time.

Corporate clients can now do the same via iGTB FX Online.

Bank of China, founded in 1912, is China’s most international and diversified bank with operations in over 60 countries and regions around the world providing a comprehensive range of financial services to customers.

It has been in the Philippines since 2002 and continues to pursue its mission of bridging Chinese and Philippine trade and investments through corporate banking, personal banking, and financial markets services, facilitating more Chinese investments in key sectors of the fast-growing Philippine economy, and investing in an RMB transfer system to encourage the settlement of payments in RMB.

Bank of China Manila is the official RMB clearing bank in the Philippines.

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