BPI engages intelligent risk management firm
Bank of the Philippine Islands (BPI) and Tongdun International will work together to create a more efficient and intelligent credit scoring model for BPI’s existing and potential SME clients. From left: Tongdun International Vice President Lawrence Lu, Tongdun Technology Co-founder and Partner Jackal Ma, BPI President and CEO Cezar P. Consing, and BPI Business Banking Head Roland Gerard “Junie” R. Veloso Jr.
Bank of the Philippine Islands (BPI) recently engaged the services of a leading risk management service provider to create a credit scoring model which will allow more Philippine small and medium enterprises (SMEs) to have access to financing.
BPI Business Banking Head Junie Veloso said the agreement with Tongdun International Pte Ltd. – a provider of big data analytical tools that include risk management, anti-fraud and customer value analysis – is also part of the bank’s efforts to intensify its digitalization and its campaign to increase financial inclusion in the country in 2019.
“We believe that through the use of artificial intelligence solutions such as the one provided by Tongdun, we can optimize our processes for the benefit of more clients. Moving forward, we will be able to serve more clients faster while managing our risks better,” said Veloso.
“As part of our enterprise-wide digital transformation, we believe that more secure and efficient digital processes and tools will help us achieve sustainable growth and accelerate financial inclusion for more Filipinos as well,” he added.
Tongdun International, headquartered in Singapore, is the international arm of China-based Tongdun Technology as part of its global expansion. Tongdun employs the “intelligent integrity network” concept which integrates artificial intelligence and cross-industry defence that makes efficient and intelligent risk management solutions possible.
The memorandum of understanding signed by the two parties will cover services and solutions involving credit cards and unsecured lending, microfinance products, and loans for SMEs.
“Tongdun is a leading FinTech company that can help financial institutions like BPI in their digital transformation journey. More than 10,000 companies across industries worldwide trust Tongdun to enhance their customers’ experience and safeguard their interests. We look forward to a fruitful partnership with BPI,” said Jackal Ma, Co-Founder and Partner, Tongdun Technology.
BPI and Tongdun hope to expand the scope of their partnership upon the achievement of certain milestones.
Founded in 2013, Tongdun Technology is a professional third-party intelligent risk management service provider headquartered in Hangzhou. Since its inception, Tongdun has been committed to building an intelligent integrity network to integrate artificial intelligence into risk management to provide small or micro businesses with comprehensive intelligent risk control solutions that are highly competent.
Customers are at the core of what we do. Our industry-focused and customer-centric solutions have enabled businesses in P2P lending, microfinance, banking, insurance, automated finance, funds management, third-party payment, OTA, e-commerce, O2O, gaming, social media and live streaming to reap tangible benefits.
leading risk management service provider:
ABOUT BANK OF THE PHILIPPINE ISLANDS
The 167-year-old Bank of the Philippine Islands is the first bank in the Philippines and Southeast Asia. We are licensed as a universal bank by the Bangko Sentral ng Pilipinas to provide a diverse range of financial services: deposit taking and cash management, payments, lending and leasing, asset management, bancassurance, investment banking, securities brokerage, and foreign exchange and capital markets. BPI has significant financial strength, with robust Tier 1 capital adequacy ratios and profitability, underpinned by a stringent compliance and risk management regimes. BPI has investment-grade ratings of BBB- (Fitch), Baa2 (Moodys), and BBB (Capital Intelligence).