The Innovators 2015 - Transactions Services, is Global Finance's annual listing of key innovations in treasury and transaction services.
Bank of The Philippine Islands for BPO Payroll Suite
Category of Innovation | Process/Marketing/Organizational
The BPO Payroll Suite includes bulk account opening within business process outsourcing (BPO) offices with onsite collection of account opening documents and release of ATM cards to employees. It includes real-time payroll crediting, ATM installation int he BPO office and a program to educate employees on financial management, conducted onsite.
Aside from the functional features of the payroll package, the bank also underwent a repricing exercise. This solution provides a competitive advantage for the bank within the Philippines’ high-growth BPO sector.