Security Bank consolidates better banking promise for startups despite the crisis

Security Bank consolidates better banking promise for startups despite the crisis

(Philstar.com) – October 28, 2020 – 9:45 am

MANILA, Philippines – The pandemic has caught the world by surprise. Many local businesses had to adapt quickly to this new reality, from small adjustments in the way they resumed their business to large revisions such as changing their distribution or business models, just to survive.

As many industries go through this challenging landscape, most will try to bounce back by embracing new innovations and opportunities. Overall, many have raised a common major concern: How can I run my business digitally?

“Before this pandemic, the large users of our digital cash management solutions were mostly larger corporations. However, at the start of ECQ, there was a sudden clamor for change, ”said Jones Diokno, senior vice president and head of Cash Management.

Helping the digital transition

Businesses’ shift to digital has been facilitated by Security Bank’s BusinessPlus account. More than a business account, it also comes with free access to the award-winning easy cash management solution, DigiBanker.

This helps business owners to securely manage funds and run operations such as e-government payments, payroll processing, automatic check cutting, automatic debit, credit facilities, and many more at home.

“For companies using traditional collection methods such as couriers or scanned deposit receipts, Security Bank’s electronic collection platforms provide a real-time view of received payments to facilitate reconciliation,” shares Robbie Pablo, First Vice President and Chief Sales and Service Delivery.

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

“If clients can maximize and outsource back office work using our tools, they can better focus on their business,” he adds.

Easy application

Customers no longer need to go to a branch to submit their requirements. Business owners can now securely open a Security Bank BusinessPlus account via Skype to maintain the required balance of P50,000.

“With safety and convenience as the bank’s main concerns, we had to make sure the process was perfect!” said John Cary Ong, executive vice president and head of Transaction Banking Group.

The application comes in six easy steps:

1. Complete the online form and attach the opening requirements.
2. Make a note of the reference number that will be provided to you when submitting the form.
3. Print the application details to be emailed.
4. Attend the Skype interview for validation.
5. Start financing the account!
6. Wait for a Security Bank representative to deliver the passbook and checkbook. Do not forget to also submit the required documents.

When running a business, response time in cash flow is crucial. For businesses that transact US-based customer checks, Security Bank streamlined the clearing of checks issued from a US bank (or even US Treasury Warrants) in just 8 days, instead of the usual 30 to 45 days.

Additionally, Security Bank has also established partnerships to help its clients navigate these difficult times. In the early parts of ECQ, they partnered with Sprout.ph to offer free access to cloud-based HRIS solutions to all local businesses (even non-Security Bank customers) to help make the change a little easier. digital.

Aligned with advocacy to boost startups and help boost the economy, they have also partnered with AFFI for their Buyanihan project, https://buyanihan.shop/, which supports micro, small and medium-sized enterprises (MSMEs) during this pandemic. . “We are hopeful that our MSMEs will recover. They just need the right tools and support to help drive that momentum, ”Diokno shares.

As a simple gesture and a way to support its local business clients, the Bank created a directory of its business clients, which they promote weekly on their social media pages and website.

Entrepreneurship can be a big risk, especially during this disruption. To wisely navigate through the new challenges in the new normal, choose the right banking partner that puts customer interests and needs first.

To partner with Security Bank today, visit https://www.securitybank.com/business/.