• Governance
  • Financial Consumer Protection Framework

Financial Consumer Protection Framework

We have a Customer Assistance Program (CAP), which was established by the Customer Experience Management Office (CXMO) to institutionalize guidelines that will help ensure that feedback from existing and potential clients are handled appropriately, as required by the Bank’s consumer protection policies. The designated Customer Assistance Officers (CAOs) have undergone onsite training so that they are equipped to address customer issues and ensure compliance with the Bank’s Consumer Protection Program. There is a continuous information and education campaign on the Financial Consumer Protection (FCP) Program to help propagate awareness. Since 2018, CXMO continuously conducted roll-outs and on-site training on FCP and alignment meetings with the CAOs in various business areas.

As part of the FCP Program, a Customer Feedback Database was created in 2017. This is continuously developed and still currently in use to strengthen the role of the frontliners in addressing and reporting customer issues. The complaints data gathered is a vital tool in identifying areas of concern and process improvements.

In July 2020, CXMO was changed to Client Experience Center (CXC) and the re-organization integrated all the major customer touchpoints which is part of the Bank’s next phase of its transformation journey as we refocus our efforts on customer experience. CXC is composed of Contact Center, Customer Care, Service Quality Assurance and Governance. The Service Quality Assurance unit conducts a Service Quality Review (SQR), where various business units present their performance updates on their defined service quality goals to the Bank’s Customer Experience Council, which is composed of the top executives of the Bank. Business process improvements are discussed here to deepen customer engagement and address specific customer needs. For 2018, eight business units underwent the SQR. There are also related policies in place such as the BPI Financial Consumer Protection Program and Complaints Management and Reporting to properly equip our bank personnel in the handling of customer feedback. Preventive measures and treatment plans from business units with top customer concerns are discussed in the Service Quality Review (SQR) appropriate service improvements and customer satisfaction.

As part of our CAP, different touch points or channels are in place where clients can file their feedback. These include our Contact Center via phone, e-mail, and social media accounts, Customer Care, branches, and the business units. Our employees are guided by the internal bank policies in handling complaints and CAP where client feedback, specifically complaints, are classified with corresponding turn-around-time which are responded accordingly.

We continuously track and monitor customer issues and feedback concerning our products and services. Action plans are implemented to ensure that the most pressing and important issues raised by clients are resolved within the committed turnaround times. Since the establishment of the Framework in 2017, we have substantially complied with product and service information and labeling regulations and/or voluntary codes. In 2020, there were no confirmed incidents of non-compliance.

Read here to know more of our client engagement activities.