Global Finance names Bank of the Philippine Islands among Top Innovators of 2019

Global Finance BPI Top Innovators
The award-winning CCDM can be installed in the bank’s clients’ own offices. Credits to BPI.

Global Finance Magazine has named Bank of the Philippine Islands (BPI) among the top innovators of 2019.

BPI’s Corporate Cash Deposit Machine (CCDM) was cited by Global Finance reporters as an innovative first in the Philippine market.

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The CCDM, aligned with BPI’s push for digitalization and automated banking, allows corporate clients to deposit funds directly to their bank accounts from their own offices without the need to go to the bank or wait for a deposit pick-up service.

The award-winning CCDM can be installed in the bank’s clients’ own offices to ensure easy, efficient, and extra-secure cash collection system that suits customer needs for the following features:

  • The machine accepts 20, 50, 100, 200, 500 and 1,000 peso bills
  • It counts and validates cash and detects counterfeit notes
  • Deposits made using the machine are credited within two hours after cut-off times,
  • Transactions after 6 PM are processed the next banking day

“We are honored and at the same time encouraged by this recognition to strive even harder to provide relevant, convenient, and secure financial solutions to satisfy our clients’ needs. This is a validation that the Bank is on the right track in our digitalization efforts,” John-C Syquia, BPI Head of Corporate Banking, said in a release sent to Good News Pilipinas.

“We will continue to invest in innovative technologies that matter to our stakeholders,” added Syquia.

BPI along with the other 2019 Innovators honorees will be recognized at the Global Finance Digital Banks Awards Dinner on October 30 at the Sheraton Hong Kong.

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The Good News Pilipinas Team is a group of Filipino journalists who advocate putting more good news stories about the Philippines and Filipinos on the media.