Bank of the Philippine Islands or BPI, the oldest bank in Southeast Asia at 172 years old, needed to continuously adapt to the times including the current leaps in digital technology, mainly artificial intelligence.

The banking industry has seen the benefits of digitalization mostly from mobile apps featuring online fund transfers, retail and bills payments, and investing, among others for faster financial transactions.

However, the industry is also continuously threatened by cyberattacks as fraudsters also modernize their hacking methods.

Boundless energy is needed to lead the way to tap opportunities in the changing landscape of the banking industry which is a role befitting BPI president and chief executive officer TG Limcaoco.

Strange mix

Limcaoco, a marathon runner and computer programmer, ensures his team takes careful strides while looking ahead, keeping their eyes on digitalization, sustainability and customer convenience.

"In today's dynamic landscape, embracing digital transformation is non-negotiable. We invest in continuous learning, providing training and resources to keep everyone abreast of digital trends and solutions," he said.

Part of this learning process is being flexible to seize opportunities which Limcaoco has exemplified throughout his career path, starting with studies in mathematics to computer programming and then banking.

"Following the completion of my Mathematical Sciences degree, I initially embarked on a career in Silicon Valley during the early '80s, working as a programmer/analyst within the booming tech industry. Given Stanford's proximity to this technological hub, entering the tech field felt like the most natural step," he shared.

"From a young age, my affinity for numbers, nurtured by my banker father, had kindled a desire to pursue a path in banking," Limcaoco continued.

After graduating from Wharton School of Business with a Master's Degree in Business Administration, he worked at JPMorgan in New York before returning to the Philippines to serve at BPI's corporate finance.

From there, Limcaoco's journey has been a mix of roles at Ayala-owned BPI, international financial institutions, and Ayala Corporation. "Yet, through these transitions, I eventually found my way back home, assuming a permanent leadership role within the bank that held my heart," he said.

However, Limcaoco said leading the BPI's consumer business is his most memorable career experience. "Moving to the consumer side opened my eyes to the exciting world of retail sales, the opportunities of mass marketing, and the challenges of managing a team of thousands," he recalled.

With the rise of fintech firms also offering loans, e-payments and savings, Limcaoco reminds the BPI team to also always have aspirations.

However, he said this mindset also applies to the team's personal lives as part of their "collective journey towards self-improvement and fulfillment."

"I have come to realize the value of setting ambitious goals not only in the corporate world but also in personal life," he stressed.

4 competitions joined

"Running has been a favorite hobby of mine, and I have completed four marathons in the past (Makati, Paris, Tokyo and Berlin). Although I have not been able to run as frequently due to various circumstances, I still try to fit it into my free time whenever possible," the bank executive shared.

Another life principle Limcaoco wants his team to practice is sustainability. He said this is critical as climate change worsens with the use of traditional energy sources.

In 2021, BPI intensified its sustainability efforts by committing to stop funding new coal projects under its Energy Transition Financing Facility which requires companies to retire their coal plants 15 years ahead of their technical lives and shift to renewable power plants.

"We make it clear that our actions have far-reaching consequences. By aligning our efforts with larger environmental and societal goals, we inspire a sense of collective responsibility and contribute to a brighter future," Limcaoco said.

Another of his advocacy  is customer convenience or customer-obsession. "We cultivate a shared understanding that every decision, innovation, and strategy stems from enhancing the customer experience," Limcaoco said.

In fulfilling this goal, BPI recently launched its new mobile app which uses artificial intelligence to help clients monitor their finances and BPI to recommend products to make clients more financially secure.

While launching super apps or lifestyle apps seem to be the step forward for several firms, Limcaoco said BPI also focuses on efficiency through its ongoing development of its rewards app called Vybe.

"We don't like to call it a super app because it has many things that we don't use. We won't launch something if we cannot do it right. One of the concepts we have for Vybe is to keep it light as phones have capacities as to how much you can download," he explained.

"By embodying customer-obsession, digitalization, and sustainability in our actions and mindset, we not only drive exceptional performance but also create a workplace where our team is motivated, engaged and eager to surpass their best," Limcaoco said.