Representatives of Gogolook and the Bank of Philippine Islands (BPI) sign a Memorandum of Understanding to strengthen scam detection and digital fraud protection in the Philippines, on August 19. (BPI)
In a statement announced on August 19 by the BPI, both parties finalised contracts to significantly enhance mobile banking security and reinforce digital banking trust across the Philippines.
Crucially, BPI mentioned that Gogolook has agreed to provide “qualified customers” with 12 months of free access to its Whoscall Premium Basic, an artificial intelligence (AI)-powered caller ID and anti-scam mobile application.
BPI’s Head of Unsecured Lending and Cards (ULC) Product and Sales Alma Aldip emphasised that “at a time when scams are becoming more sophisticated and harder to detect, building awareness is just as important as providing protection”.
She added that “this partnership allows us to go beyond traditional banking by equipping our clients with tools and knowledge that help them stay one step ahead of fraud. While Whoscall provides an added layer of protection, we still encourage customers to remain vigilant and exercise caution in all financial transactions”. She clarified, however, that Whoscall is a separate, third-party tool offered for free. Consequently, BPI does not manage its features or performance.
Reiterating the sentiment, Gogolook Global Chief Operations Officer Manwoo Joo said, “scam tactics are becoming more localised and sophisticated, which is why collaboration is key in staying ahead of fraud. Through our partnership with BPI, we are able to bring our global expertise in digital risk detection to more Filipinos and empower them with tools like Whoscall to better identify and avoid suspicious communications”.
What does this mean for business?
Escalating digital fraud threats are undoubtedly a major friction point for developing e-commerce in Southeast Asia. This strategic tie-up between BPI and trusttech company Gogolook addresses these issues directly; by mitigating high fraud rates (which traditionally inflate risk premiums for financial institutions and cause substantial annual capital losses for companies) the initiative enhances mobile banking safety. Ultimately, building such consumer confidence will act as an economic catalyst, prompting higher transaction volumes across digital marketplaces. However, for this initiative to succeed, the foremost priority remains socialising and educating the public to ensure citizens fully comprehend these digital dangers.
Kala Advisory helps investors turn regional opportunities into targeted, country-by-country risk mitigation and digital infrastructure entry plans across Southeast Asia. Visit kala-advisory.com.
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