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MANILA, Philippines – The Bank of the Philippine Islands (BPI) has launched a new app to expand services available on their mobile banking platform, which will eventually feature personalized recommendations using artificial intelligence (AI).
“We’ve built it on a new technology stack, which allows us to improve and change the app more often, so we will have more drops more often, which will allow us to keep adding functionalities to the app over time,” BPI president and chief executive officer said TG Limcaoco said on Wednesday, April 12.
The mobile app features a revamped user interface. New bank clients can also open a BPI SaveUp account on the app using a single ID.
In May, BPI will also roll out its AI-powered “personal finance management” feature. Once launched, BPI said that it would become the first bank app with AI-powered tracking and insights that would “offer financial advice, payment reminders, and actionable tips.”
BPI consumer platforms head Fitzgerald Chee said that the AI features will be geared towards retail clients, who can expect to receive insights that get better the more they use the app.
“It needs to learn. But what it can do is to take a look at what others are doing and use that as a base for your insights, your advisory. If it learns from others, it can actually apply to you as well. As you use more, the more the insights will be relevant to the clients,” Chee said.
The app will also eventually allow users to process mobile check deposits, time deposits, real-time bill payments, and cash withdrawals via QR.
The Ayala-led bank is hoping to move all its users from its old mobile app to the newly-launched one within the year. However, Chee noted that users of the BPI Mobile app need not delete their old app yet. QR codes generated on the old app will still work on the new BPI app.
The app, which had its soft launch in late February 2023, is available for download in the Apple App Store and Google Play Store. – Rappler.com