SECB bags award for deposit product

Security Bank (PSE: SECB) received the Deposit Product of the Year award at The Asian Banker’s Philippine Country Awards 2017 held in conjunction with the region’s most prestigious retail banking event, the Future of Finance in the Philippines, at the Fairmont Makati.

Anchored on its BetterBanking brand promise, Security Bank launched a pro-customer deposit product that promises “freedom from banking hassles” – All Access Account. The product offers customers an allaround access to their funds via a passbook, check book, mobile app and an EMV debit MasterCard that can be claimed immediately upon account opening.

The on-boarding has been enhanced to be more seamless by introducing a Human Switch kit and an Online Account Application portal. Security Bank eliminated the need to visit a branch in claiming or replacing their debit card, instead the Bank delivers them directly to the customers. It also has a wide number of billers to allow customers to conduct payments directly from their account. Moreover, it introduced an onlineonly savings account with a higher interest rate than a time deposit and auto-savings feature wherein customers can set aside a portion of funds intended for savings. Early this year, the Bank announced the inclusion of the free life insurance benefit that comes with every account. All Access Account clients can get free life insurance coverage up to 3x their ADB, with no medical exams required. With this latest addition, clients can have peace of mind as they save for and secure their future.

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Asian Banker’s Philippine Awards is the most rigorous, prestigious and transparent awards programme for consumer banking in Philippines. Winners were determined based on a stringent evaluation process refereed by prominent global bankers, consultants and academics.