Bank of Philippine Islands is the first Filipino bank to use SWIFT’s bank-readiness program to improve connectivity with corporates
Manila, 27 January 2016 – SWIFT announces that Bank of Philippine Islands (BPI) has recently been awarded the bank-readiness certification from SWIFT. In response to on-going corporate needs for seamless automation and standardisation in their interactions with banks, BPI will use the SWIFT platform to enhance their technical capabilities to better serve their corporates customers. This is a significant breakthrough for the bank as it creates a level playing field with their regional peers to support the optimisation processes for Filipino corporates.
Manuel C.Tagaza, Senior Vice President and Electronic Channels Group Head, BPI, stresses the efficiency of the SWIFT bank-readiness certification for their corporate clients where, "BPI is committed to continuously provide our corporate clients with best-in-class cash management facilities. With our SWIFT Bank Readiness certification, we are geared to enable businesses with multi-dimensional transactions to deal through a single platform built on rigorous international standards. We are ready to make the best business happen."
Stella Lim, Head of Corporate Sales, Asia Pacific, SWIFT, comments that, “By leveraging the SWIFT technology, corporate customers will gain greater insights from the ease of multi-bank connectivity. We are honoured that BPI finds SWIFT’s bank-readiness certification programme essential to stay competitive. Certification is a vote of confidence corporate customers can have when there is clarity on the SWIFT capabilities their banking partners have around the world. With this certification, BPI is set for success to achieve new heights of efficiencies for their corporate customers.”
SWIFT Bank Readiness programme provides corporates with standardised connectivity to the banking community and enables banks to improve their customer connectivity experience. Through SWIFT’s Bank Readiness portal, corporates can easily identify the various SWIFT messaging standards and technologies that banks support and in which countries.
About Bank of the Philippine Islands
Bank of the Philippine Islands (BPI), the first bank in the Philippines and in Southeast Asia, is a commercial bank with an expanded banking license. BPI’s services include consumer banking and lending, asset management, insurance, securities brokerage and distribution, foreign exchange, leasing, and corporate and investment banking. BPI is a leader in Philippine banking, with its high market capitalization, strong Tier 1 capital adequacy ratio and healthy shareholder return, all promoted and supported by prudent management. BPI is rated investment-grade by the major international credit ratings agencies.
About SWIFT for Corporates
SWIFT for Corporates offers a wide and growing range of products and services for multi-banked corporates to connect with banks and financial institutions through a single, secure and reliable channel. SWIFT provides corporate treasurers and finance managers global visibility on cash and trade, lower cost of financial transactions and improved security and reliability. SWIFT for Corporates also includes additional capabilities such as Bank Payment Obligation (BPO)/Trade Services Utility (TSU), 3SKey, SWIFTRef, MyStandards and Sanctions Screening. For more information, visit http://corporates.swift.com/
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,800 banking organisations, securities institutions and corporate customers in over 200 countries and territories. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.
Communications Specialist, Asia Pacific
+852 2107 8451