Security Bank awarded as Best Retail Bank

In less than five years from when it launched its BetterBanking campaign which focused on building its retail banking business, Security Bank (SBC) was recognized by no less than The Asian Banker as Philippines’ Best Retail Bank at the recently concluded International Excellence in Retail Financial Services 2018 Awards ceremony held in Kuala Lumpur, Malaysia.

This is the first time the bank bested the country’s larger financial institutions that used to dominate the Retail banking category.

The Asian Banker explained that SBC was able to take advantage of its size in faster decision-making and execution of strategies and innovative solutions that surpassed the largest banks.

“Although younger and smaller compared to the three large banks in the industry, Security Bank leads in terms of process and technology and has leveraged on automation for seamless operations and straight-through processing,” The Asian Banker noted.

Security Bank began to seriously focus on and build its retail banking business merely four years ago with its rebranding campaign and retail banking transformation which introduced the BetterBanking experience to customers. Since then, the bank had received a number of awards that recognized its retail banking products and services.

“At the outset, we were driven by our commitment to become a better bank for our customers. With that as the foundation, we steadfastly built our retail banking business as the third business pillar of the bank complementing our strengths in wholesale banking and financial markets. This recognition also validates our direction and strategy thus further encouraging us to pursue offering BetterBanking solutions for our clients,” said Alfonso L. Salcedo Jr., Security Bank President and CEO.

The Asian Banker applauded how the bank strategically positioned itself as an innovative and customer-centric retail bank. It noted that, “Security Bank stood out as a bank that leverages technology and analytics to bring better customer experience.”