DESPITE THE CRISIS: Security Bank cements better banking promise for new businesses


    The pandemic has caught the world off guard. Many local businesses had to quickly adapt to this new reality — from minor tweaks on how they resume their business to major overhauls like changing their distribution or business models, just to survive.

    As many industries steer through this challenging landscape, most will try to recover by embracing new innovations and opportunities. Across the board, many have raised a common major concern — how can I run my business digitally?

    “Prior to this pandemic, heavy users of our digital cash management solutions were mostly larger corporations. However, at the onset of ECQ, the clamor to shift suddenly emerged,” SVP Jones Diokno, Cash Management Head of Security Bank, recounts.

    The shift of enterprises to digital has been made easier by Security Bank’s BusinessPlus account which also comes with free access to the award-winning and easy-to-use cash management solution, DigiBanker.

    This helps business owners accomplish secure fund management and execute operations such as eGovernment payments, payroll processing, auto-check cutting, auto-debit, credit facilities, and many more in their homes.

    “For businesses using traditional collection methods like messengers or scanned deposit slips, Security Bank’s electronic collection platforms offer real-time view of received payments for easier reconciliation,” shares FVP Robbie Pablo, Head of Sales and Service Delivery.

    The BusinessPlus account also comes with 10 payroll accounts and 5 BusinessPlus debit cards that can be distributed to key work-from-home employees, with their own set monthly limits.

    “If clients are able to maximize and outsource the administrative work by using our tools, they can focus better on their business,” Pablo adds.

    Customers no longer need to go to a branch to submit their requirements. Business owners can now open a Security Bank BusinessPlus account securely through Skype for a maintaining balance requirement of P50,000. “With safety and convenience as the bank’s primary concerns, we had to make sure the process was seamless,” EVP John Cary Ong, Head of Transaction Banking Group, shared.

    When managing a business, turn-around time in cash flow is crucial. For businesses that have check transactions from clients based in the USA, Security Bank streamlined clearing of checks drawn from a USA bank (or even US Treasury Warrants) in as early as 8 days, instead of the usual 30-45 days.