The Bank of the Philippine Islands (BPI) continues to take steps towards financial inclusion with “Ipon Nation”, the bank’s newest multi-leg on-ground activation movement which aims to encourage Filipinos to save by bringing banking closer to them.
“Increasing our touchpoints is integral to realizing our goal to provide both unbanked and underserved banked Filipinos with better access to our deposit products and services that meet their needs. ‘Ipon Nation’ is created to enhance their financial literacy and show them that BPI is a reliable partner that will assist them in achieving financial goals,” said Ma. Carmina Marquez, Head of Deposits, BPI.
The first featured product of BPI Ipon Nation is Todo Savings, a digital savings account powered by BPI’s wholly owned subsidiary, BanKo. Todo Savings can be opened by clients in as fast as five minutes through the BPI BanKo mobile app. This high-yield deposit product offers an interest rate of 4% per annum or over 60 times more than a regular savings account. It only requires one ID for account opening and has no maintaining balance requirement and dormancy fees. Clients are only required to have a minimum deposit of P1.
“Todo Savings eliminates the common barriers to saving money in a formal bank account with its convenient and affordable features. Being an entry point to formal banking, Todo Savings aims to help our clients develop the habit of saving and to empower them to reach their #IponGoals,” said Rodolfo Mabiasen Jr, Head of Financial Inclusion and Microfinance Solutions, BanKo.
Last October 22 and 23, BPI’s Ipon Nation was in SM MOA Seaside, the program’s pilot location. The second event happened in Market Market BGC last November 12 and 13. And because of the success of the second leg, the BPI Ipon Nation will be coming back to Market Market on December 10 and 11 for another run.
