A universal bank has come up with a facility that would help Philippine Economic Zone Authority (PEZA) locators to lessen the burden of managing their payables to the agency.
In a statement, the Bank of the Philippine Islands (bpi) said that it recently launched its Auto-Debit Arrangement, or ADA facility.
BPI explained that the ADA solution addresses the management of payables to PEZA by eliminating tedious manual processes such as check preparations and queuing for payments and filing, which involve a lot of risks and are prone to human errors.
“BPI is the first bank to offer ADA for PEZA locators,” according to Bess Basa, BPI vice president and head of Transaction Banking Division.
The bank official also said that the facility will be available initially in the Cavite ecozone, adding that it will also offer the solution in Baguio City and Mactan ecozones this year.
Furthermore, Basa said that the PEZA locators only need to enroll once and their payments will then be automatically debited every month.
“No more queuing in PEZA offices and no more check preparations each time which would mean less cash handling and no missing of deadlines and due dates,” she added.
Meanwhile, BPI added that it also hosted back-to-back forums for its corporate clients to provide business decision-makers timely and relevant insights.
Called “BPI Business Talks,” the forums also provide tools to help the bank’s corporate clients operate and expand their operations in more efficient and cost-effective ways.
Topics in the forums include an economic briefing by Jun Neri, BPI chief economist, and presentations on business solutions to address the ever-changing and increasing needs of the bank’s corporate clientele.
“We, in BPI, strongly believe in the strength of our partnerships not only to boost business, but also to pursue corporate social responsibility in business practices. Part of our Know-Your-Customer, or KYC principle is going beyond serving the needs and requirements of our clients. KYC for us means the ability to anticipate and respond to your business needs even before they become apparent,” said Alfonso Salcedo Jr., BPI executive vice president and Corporate Banking Group head.
“We want to be a relevant banking partner to our customers, responsive to their ever-changing and increasing needs,” he added.
Mayvelin U. Caraballo