September 10, 2024 | 12:00am
MANILA, Philippines — BPI Wealth, the wealth management unit of Ayala-led Bank of the Philippine Islands, logged over P1 billion in assets under management (AUM) for its digital accounts in the first half of the year.
“Reaching P1 billion in AUM through digitally opened accounts is a strong validation that our digital initiatives are on the right path,” BPI Wealth president and CEO Maria Theresa Marcial said in a statement.
“It also signifies Filipinos’ readiness to adapt to technologies that allow them to take control of their financial futures through investments,” she said.
According to BPI Wealth, the digital accounts includes investments in unit investment trust funds (UITFs) and mutual funds, custody as well as segregated portfolios opened and transacted online through its digital investment account opening platform, e-Invest.
“Our commitment to sustainability through embracing digital solutions is resonating with our clients and driving growth for the business,” Marcial added.
In 2023, BPI Wealth lowered the minimum investment for UITFs and mutual funds to P1,000 for peso funds and $100 for dollar funds to widen the access to high-quality investments.
BPI Wealth also introduced a fully digital account opening process for retail fund investors, further simplifying the investment journey for clients.
“Building on this success, BPI Wealth has now launched a paperless, all-digital end-to-end account opening process for its portfolio management account (PMA),” the bank said.
PMA is an investment vehicle that allows customers to invest in high-quality securities and investment outlets that have passed BPI Wealth’s accreditation process.
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