BPI Direct Savings Bank
 | |
| Subsidiary of Bank of the Philippine Islands | |
| Industry | Finance and Insurance |
| Founded | Manila, Philippines (1986) |
| Headquarters | Makati City, Philippines |
Key people | Louella G. Mangalindan (President) |
| Products | Financial Services, Express Teller Savings, BPInoy Savings, Save-Up Automatic Savings + Insurance, Maxi-Saver Savings, Maxi-One Checking, Time Deposits, Auto Loan, Housing Loan |
P40.9 million PHP ( 19%) (2009) | |
Number of employees | unknown |
| Website | www.bpidirect.com |
BPI Direct Savings Bank, a wholly owned subsidiary of Bank of the Philippine Islands (BPI), is the Philippines’ first internet bank operating in a generally paperless environment with no defined geographical boundaries.
BPI Direct empowers its customers, including Filipinos around the globe and the new generation in this electronic age, to be in full control of their finances as it made banking available 24/7, wherever they may be.
History
BPI Direct Savings Bank was incorporated and registered with the Securities and Exchange Commission on September 26, 1986, primarily as a subsidiary meant to engage in the general business of savings and mortgage banking.
In 2000, BPI Direct underwent a major image change as it became the first Philippine bank designed around the telephone and online banking channels. It wanted to provide its clients with a way to have access to their accounts 24/7, as well as to provide the convenience of traditional banking services, such as opening a savings account.
Two years later, BPI Direct realigned its business strategy towards the Overseas Filipino community, without alienating its existing clientele. Today, expatriate Filipinos in some countries with high numbers of Filipinos, such as Bahrain or Hong Kong, can open BPI Direct accounts, and Filipinos abroad can access their accounts from anywhere in the world. Because of this, BPI Direct decided to name itself "your bank away from home", which is its official slogan. It is owned by the Bank of the Philippine Islands.