Security Bank, Epson partner for financing
Security Bank Corp. has partnered with Epson Philippines Corp. for a special financing program for Epson’s distributors and dealers to help them fulfill big-ticket orders which usually tighten liquidity.
Epson is a digital imaging and printing solutions company with dealers nationwide.
John Cary Ong, wholesale banking segment head at Security Bank, said the bank is excited to partner with Epson Philippines to offer an innovative financing solution for the company’s distributors and dealers.
“We understand the challenges and opportunities that they face in the market, and we want to provide them with the best possible banking experience. Through this program, we hope to empower them to achieve greater efficiency, productivity, and profitability,” Ong said.
The financing program is designed to provide financing to the dealers of the distributors of Epson to support the payment of goods ordered, up to collection period, helping bridge the liquidity gap of dealers until their receipt of funds from sales.
Through the partnership STEPS or Strategic Tie-up of EPSON Partners and Security Bank, Epson dealers will enjoy readily available funds for inventory build-up and to support big ticket orders, which usually tighten liquidity.
Likewise, the end-to-end payment process will be simplified, enabling dealers to facilitate collection through designated Security Bank accounts.
Both parties are also finalizing a possible dealer incentives program.
Epson Philippines president Masako Kusama said the company is excited to collaborate with Security Bank to launch the STEPS dealer finance program.
“This partnership not only opens up new opportunities for our dealers but also aligns with Epson’s corporate purpose of delivering unique value through innovative and creative solutions. By providing financial support to our partners, we can collectively drive growth in the corporate segment and contribute to the success of businesses in the Philippines,” he said.
Security Bank director Juichi Umeno said the listed bank is honored to be mandated as the local bank of choice for Epson to support and grow their distributor and dealer relationships.
Umeno, who is also alliance segment head at Security Bank, said the dealer financing solution is just the beginning of a deep and progressive partnership with Security Bank, showcasing the innovative and customer-centric culture embraced by both two institutions.