The Bank of the Philippine Islands (BPI) recently unveiled a new feature on their BPI app. Considered as a first in the industry, the new Track and Plan tool utilizes Artificial Intelligence (AI) to track and analyze your financial activities in the BPI app. It is like having a Personal Finance Manager in a form of an app.
Based on your latest transactions, Track and Plan will generate insights around your cashflow and float up snippets to notify you of your spending habits. Users can get the full insights with more details when they click on the notification and easily get in touch with BPI if they need to. It can also inform users about a frequent payors deposit whether it was less or more.
Track and Plan can also suggest ways for you to invest and grow your extra funds if it detects that your balance is consistently high and it sufficiently covers your average monthly expenses. On the other hand, it also monitors trends in your spending and alert you in case your bill was higher than your average. In this way, you can be more mindful of your budget!
Users of the AI-powered tool can be assured about the privacy of their financial transactions.
As AI learns from patterns or features in data, insights from Track and Plan gets better the more you use it. BPI will also be expanding its capabilities in the coming months so users will eventually have the option to turn on automatic monthly investments, schedule their most frequent transactions, and best of all, stay on top of their spending and earnings with a built-in budget tracker. All these will be available exclusively on the new BPI app.
“We at BPI are excited to unveil Track and Plan, our AI-powered personal finance management tool on the new BPI app,” says Mariana Zobel de Ayala, Consumer Marketing and Platforms Head at BPI. “We are leveraging technology to simplify money management to empower Filipinos to do more and make their lives better every day. This feature essentially scales BPI’s seasoned and personalized financial advice to millions of Filipinos and is the next step forward in BPI’s evolution. Our customers can look forward to more in-depth insights and actionable advice as we continue to develop this feature.”
The new BPI with AI-powered insights can be downloaded via the Apple App Store or Google Play. Meanwhile, the old BPI app will run up to September 30, 2023, so if you’re a BPI subscriber, better upgrade before that time.
Download the new BPI app now: https://l.bpi.com.ph/DownloadBPIApp
Once done, follow these steps:
1. Open the app, go to “I already have a BPI online account”
2. Select “Login” and use your current user ID and password
3. Register your device
4. Turn on Mobile Key in the settings.