Bank of the Philippine Islands (BPI) recently launched BPI BizKo, a simple, affordable, and convenient subscription-based digital banking platform that enables micro, small, and medium enterprises (MSMEs) to manage their business finances and provides an integrated online system for invoicing and collection.
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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 your BPI Online Banking Account linked to BizKo, entrepreneurs can now skip the hassle of submitting multiple requirements for onboarding, and instead easily enroll and transact via BPI BizKo anytime, anywhere.
“The pandemic 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,” said Eric Luchangco, Head of Business Banking at BPI. “We launched BPI BizKo to make business transactions more seamless and efficient for MSMEs, enabling them to save both time and money, even amid the uncertainties today.”
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.
While these are benefits that come with having a corporate online banking platform, these often require a significant initial deposit and the maintenance of a daily balance that some MSMEs struggle with. BPI BizKo allows them to access these services through flexible and friendly subscription plans available in monthly and annual terms that start at Php 50 and Php 100 per month for basic and premium plans respectively, without the need for an average daily balance.
“With BizKo, we aim to provide individuals and businesses an efficient, inclusive, safe, and secure digital payments ecosystem to reinforce our commitment to be the MSMEs’ partner-of-choice,” shared Ana Sison, Head of BPI Transaction Services Division. “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.”
BPI BizKo is accessible through its official website www.bpibizko.com and mobile app for download via App Store and Play Store.