MANILA - Bank of the Philippine Islands on Wednesday introduced its digital platform dedicated to helping small enterprises manage their finances.

BPI BizKo is a subscription-based platform for MSME's, which offers "integrated online system for invoicing and collection" to help with their cash flow and other banking needs, BPI head of Transaction and Services Division Ana Maria Sison told reporters in a virtual briefing.

What makes it unique from the existing corporate online banking platforms is that small businesses don't need to deposit a balance to use the service, therefore freeing cash to grow their operations, BPI said.

MSMEs just need to enroll in the service, which is available on both mobile devices and the web. Enrollment is also fully online with no need to submit additional documents

With BPI BizKo, users can create invoices, request for payment, provide payment link, perform bank transfers, pay government fees, pay employees and create transaction reports, among others, the bank said.

The services "streamline" processes and lessens the need to move funds from bank to bank as well as physical trips to banks, therefore, saving small entrepreneurs time and money, BPI head of Business Banking Eric Luchangco said.

“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," he said.

Subscription rate starts at P50 per month for classic plans and P100 per month for the premium plan, BPI said.

The app, which will officially launch on March 10 is now available for download through the App Store and Play Store or through its official website, BPI said.

• BPI unveils 'all-in' home loan financing product with zero upfront fees
• BPI posts P6.4 billion Q4 net income, full year profit at P23.9 billion
• BPI warns public vs 'money mule' scams amid digitalization

RELATED VIDEO:

Watch more in iWantv or TFC.tv