The Bank of the Philippine Islands (BPI) announced that there had been no significant impact on its operations after the recent glitch that involves the double posting of transactions.

Last Wednesday, the BPI said that some ATM, POS, e-commerce debit, and CAM deposit transactions from December 30 to 31, 2022 have been posted twice. The said issue was immediately resolved on the same day.

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In a disclosure to the stock exchange, BPI said that “the bank’s web and mobile app platforms are accessible and back to normal.”

They added that the glitch had “no material impact to the Bank’s business, financial condition, and operations.”

Meanwhile, in a separate statement, BPI expressed its sorry for the incident and gave thanks to its stakeholders and customers for their understanding and patience.

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“No one is ever perfect, and when you stumble, you admit and address,” said BPI President and CEO Jose Teodoro K. Limcaoco.

They assured the people that the incident will only strengthen their resolve “to always pursue excellence, uphold the highest banking standards, and repay the trust and confidence our customers place in us.”

To prevent it from happening again, BPI said that they will review and improve their systems, processes, and controls.

The BPI has already provided an update to the Bangko Sentral ng Pilipinas (BSP) on the resolution of the issue. They were also asked by the BSP to provide a timeline of the incident.

As of September 2022, BPI is the country’s third-biggest bank in terms of assets.

Via: ABS-CBN News



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