Push Admin

BPI says duplicate transaction glitch has 'no material impact' on operations

Article (news)

ABS-CBN News

<p><br/>MANILA - The Bank of the Philippine Islands on Thursday said the recent glitch that involved the double posting of transactions of some customers has no significant impact on its operations.</p><p>On Wednesday, BPI said some ATM, CAM deposits, POS and e-commerce debit transactions from Dec. 30 to 31 were posted twice. The issue was also resolved on the same day.</p><p>&quot;The Bank’s web and mobile app platforms are accessible and back to normal,&quot; BPI said in a disclosure to the stock exchange. </p><p>&quot;There was no material impact to the Bank&#x27;s business, financial condition, and operations,&quot; the Ayala-led bank said.</p><p>In a separate statement, BPI said it regrets the incident and thanked its customers and stakeholders for their patience and understanding. </p><p>“No one is ever perfect, and when you stumble, you admit and address,” BPI President and CEO Jose Teodoro K. Limcaoco said.</p><p>“This incident only strengthens our resolve to always pursue excellence, uphold the highest banking standards, and repay the trust and confidence our customers place in us,&quot; he added.</p><p>BPI, which is the country&#x27;s 3rd largest bank in terms of assets as of September 2022, said it would review and improve its systems, processes and controls to address gaps and pursue enhancement to prevent future incidents.</p><p>The bank said it has also updated the Bangko Sentral ng Pilipinas on the successful resolution of the issue. The central bank earlier asked BPI to provide a timeline of the incident. <br/> </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/01/04/23/bpi-says-working-to-reverse-duplicate-transactions">BPI says &#x27;working to reverse&#x27; duplicate transactions</a></li>	<li><a href="https://news.abs-cbn.com/business/01/04/23/bpi-says-duplicate-transactions-glitch-resolved">BPI reports &#x27;successful resolution&#x27; of duplicate transactions</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2404769" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

 The Bank of the Philippine Islands on Thursday said the recent glitch that involved the double posting of transactions of some customers has no significant impact on its operations.