CEO TG Limcaoco to speak on BPI’s digital transformation at Manila forum

Bank of the Philippine Islands (BPI) has a big and bold ambition — that is to have 50 million customers by 2026; and it intends to do it by embracing digital innovation for banking excellence.

“What we want to do is broaden our customer base,” said BPI President CEO TG Limcaoco, who was interviewed by Asian Banking & Finance, less than a month before taking the stage as a speaker at the Asian Banking & Finance Forum on set on 3 October in Manila.

Limcaoco’s highly anticipated engagement brings his wealth of experience and expertise to the event, where he would share the bank’s transformative journey and digital evolution.

Bank of the Philippine Islands is an extraordinary study in the world of banking. Established 172 years ago, it is the oldest bank in Southeast Asia and one of the Philippines’ largest financial institutions.

Under the leadership of Limcaoco, the bank has embarked on a mission to expand its customer base and embrace technological advancements. From 8 million customers two years ago, his vision is for BPI to serve 50 million clients three years from now.

“This will really be driven by our focus on technology, customer service, sustainability, and financial inclusion,” Limcaoco told Asian Banking & Finance without a hint of rhetoric.

“We’re undergoing a strategy of turning all our services into what we call ‘phygital.’ Our view is that the only way you get the 50 million customers at a reasonable cost is to digitise, onboard new customers digitally, and transform your processes digitally so you can deliver services at the lowest cost,” he asserted.

The BPI boss made it clear, though, that this digital journey is not solely about technological implementation. It also involves reshaping the organisational culture to embrace digitalisation, foster agility, and promote an entrepreneurial mindset.

Looking out for the benefit and interest of customers, Limcaoco is pushing for a harmonious blend of personal interactions and seamless digital services. “My personal belief is that banking is a commodity, [so] then you have to also be very focused on the total customer experience,” he said.

Experiencing the pandemic and seeing the expedited the shift towards digital banking, Limcaoco’s insights become incredibly relevant to the upcoming Manila forum. As businesses and consumers adapt to the new normal, BPI’s strategy of adapting and thriving in an increasingly digital landscape is an authentic model.

“Well, I hope to be able to speak about the journey we’re undergoing, the way we look at the processes within the bank, the way we handle our projects within the bank,” Limcaoco said of his session at the Asian Banking & Finance Forum as he aims to provide attendees with actionable insights into BPI’s transformational journey.

He hopes to engage the audience with discussions on process evolution within the bank, focusing on enhancing customer experiences from onboarding to issue resolution. As competition within the financial industry intensifies, including from fintechs and digital banks, Limcaoco will also share BPI’s approach to collaboration with technology partners and financial counterparts.

“I also hope to share our experience in the way we work with them, and with our other partners in the financial world to deliver more services to our customers and to potentially new customers and even people who aren’t our customers,” he said.

Asked to close the interview expressing his feelings about the upcoming event, the BPI President and CEO shifted to an even more enthusiastic tone, saying: “I’m looking forward to meeting everyone at the Asian Banking & Finance Forum.”

To gain further insights and expertise from industry leaders like Limcaoco, sign up for the Asian Banking & Finance Forum by visiting asianbankingandfinance.net.