The Ayala Group’s Bank of the Philippine Islands (BPI) pledged to improve systems and processes after account holders were affected by erroneous debit charges on Wednesday.
The problem was resolved within the day and the duplicate transactions were reversed.
Nevertheless, BPI said it regretted the incident as it thanked its clients for their patience and understanding.
“No one is ever perfect, and when you stumble, you admit and address,” BPI president and CEO Jose Teodoro K. Limcaoco said. “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.”
BPI said it would also “review and improve existing systems, processes, and controls to address gaps and pursue enhancements to prevent recurrence.”
“We are humbled by our clients’ unwavering trust in our ability to safeguard their accounts and their heartwarming appreciation of our frontliners’ immediate response and attention,” the lender said in the statement.
“We have 171 years of legacy and trust to preserve which we have done so through continuous innovation, process re-engineering, and prudent management,” it added.