Tuesday, 5 December 2023

Security Bank was awarded The Deposit Product of the Year for 2018 at The Asian Banker Philippines Country Awards 2018

5 min read

By The Asian Banker

  • Security Bank offers full service accounts with integrated insurance coverage to customers
  • The bank has enhanced the customer experience by offering a rapid onboarding process through eKYC
  • The bank’s ‘All Access Account’ received a stellar reception, increasing monthly account openings by three times

Mr. Foo Boon Ping ( Managing Editor of The Asian Banker), Mr. Leslie Cham (EVP,Head of Branch Banking Group), Ms. Patricia Tan (Head of Retail Marketing), Ms. Ma. Cristina “Maki” Tingson ( EVP, Head of Retail Banking Segment), Mr. David Gyori (International Resource Director of TAB) and Mr. Richard Hartung (International Resource Director of TAB)

Manila, October 5th 2018 —Security Bank received The Deposit Product of the Yearawardfor the Philippines at The Asian Banker Philippines Country Awards 2018. The awards ceremony was held in conjunction with the prestigious The Future of Finance Philippines 2018, the annual gathering for decision makers in the financial services industry in the country, held at the Fairmont Makati, Manila on October 5th, 2018.

 

Security Bank offers full service accounts with integrated insurance coverage to customers

 

The bank relaunched the ‘All Access Account’ to provide full access to banking services, including Debit, Mastercard, check book and passbook services, with one integrated bank account. As a differentiating feature, the product also offers free insurance with the deposit account, making it one of the few banks to do so, adding value to its customers. It offers life insurance coverage of up to $55,319 (PHP 3 million), accidental benefit of up to $18,439 (PHP 1 million), with family assistance and terminal illness benefits. It also is easily accessible to customers as medical reviews are not required.

 

The bank enhanced the customer experience by offering a rapid onboarding process through eKYC

 

The bank enhanced the customer experience by offering Electronic Know-Your-Customer (eKYC) to facilitate the onboarding of customers. The account opening process is rapid and does not require multiple documents or the filling out of many forms. With one form of identification, customers are able to receive their checkbooks and Mastercard debit cards immediately. Additionally, customers can access a money transfer service with their mobile devices through the eGive Cash feature eliminating the need for a physical ATM card. The bank intends to move the account process fully online, as customers will be able to open their accounts by uploading their identification and verifying their identity with a face scan through their mobile phones. 

The bank’s ‘All Access Account’ received a stellar reception, increasing monthly account openings by three times

Since the advertising campaign launch of the ‘All Access Account’ in August 2017, the average monthly account opening in 2017 increased by 300% compared to 2016. Furthermore, the positive customer reception was underscored by the fact that walk-ins comprised of 90% of branch clients, as opposed to those that were solicited.

 

 

About The Asian Banker

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com

 

For all Business Achievement Awards 2018 photos, please visit

https://www.facebook.com/pg/TheAsianBanker/photos/?tab=album&album_id=10156587646114804

 

For further information on the collaterals for winning banks, please contact:

Mr. Foo Boon Ping

Managing Editor

Tel: (+65) 6236 6526

bpfoo@theasianbanker.com

www.theasianbanker.com

 



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