Ayala-led Bank of the Philippine Islands headed by bankero TG Limcaoco has augmented its digital platform with the BizKo app to help micro, small, and medium enterprises (MSMEs) amid the ongoing COVID-19 pandemic.
BPI head of business banking Eric Luchangco said the global health crisis made running a business even more challenging for Filipino MSMEs.
“Aside from decreased profitability, entrepreneurs need to contend with heightened complexity, as issues like illnesses and lockdowns limited their mobility, made operations more expensive, and caused significant delays that bloated their overhead expenses,” Luchangco said.
The BPI BizKo platform aims to make business transactions more seamless and efficient for MSMEs, enabling them to save both time and money, even amid the uncertainties.
It a simple, affordable, and convenient subscription-based digital banking platform that enables MSMEs manage their business finances and provides an integrated online system for invoicing and collection.
The all-in-one online platform available via app and web offers MSMEs immediate access to their account information – to view balances, deposits, and payables, regularly pay employees, suppliers, utilities, and government dues, create digital invoices under their business name, get invoice number reminders to avoid duplication, and receive and monitor payments through its intuitive invoicing system.
With BPI BizKo, MSMEs can handle everyday financial and accounting processes without the need to move funds to another e-wallet or bank account, or physically go to the branch. This helps in streamlining the cash flow to and from their partners and customers for more accurate and hassle-free monitoring.
BPI BizKo allows MSMEs to access these services through flexible and friendly subscription plans available in monthly and annual terms that start at P50 and P100 per month for basic and premium plans respectively, without the need for an average daily balance.
Ana Sison, Head of BPI Transaction Services Division, said BizKo would provide individuals and businesses an efficient, inclusive, safe, and secure digital payments ecosystem to reinforce our commitment to be the MSMEs’ partner-of-choice.
“BPI BizKo aims to address the pain points and ease the challenges of MSMEs in cash and liquidity management so they can focus on keeping their businesses afloat, finding opportunities to boost profitability, and supporting their employees, partners, customers, and their own families and communities,” Sison said.