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Manila, October 3 2002 - Security Bank Corporation (PSE:SECB) signed a
Memorandum of Agreement with the Bureau of Internal Revenue and the Bureau
of Treasury at the Department of Finance formalizing its participation
in the Electronic Filing and Payments System (eFPS) for tax collections
of the BIR.
Labeled eFPS RealTime
and part of its DigiBanker suite of corporate cash management services,
Security Bank’s new facility will allow large corporate taxpayers
to course their tax payments to the BIR in a secure, direct, and convenient
manner.
"With this new
offering, we look forward to assisting both the BIR in streamlining and
securing the flow of revenue collections, and Philippine corporations
by providing them a safe and convenient means of effecting their tax payments"
remarked Rafael F. Simpao Jr., president and CEO of Security Bank. eFPS
RealTime is the latest among several e-services launched last year by
Security Bank, which include Security DigiBanker, TeleBanker, and MobileBanker.
"More than a hundred large corporations already use DigiBanker to
manage their operating funds flow on a daily basis" stated Manny
Narciso, FVP and head of the bank’s Cash Management Group. "All
of them have to pay taxes as well, and with their operating funds already
in the bank, this is a next logical step for them."
A unique feature of
Security Bank’s eFPS RealTime is its workflow management system,
which allows for filing of tax payments on the BIR’s eFPS at an earlier
date while effecting payment on due date. The taxpayer can thus avoid
the virtual "crowd" rushing to e-file on payment date. Unlike
other systems, Security Bank’s eFPS RealTime also automatically sends
a notification to the corporations’ authorizers via text message
when tax payments need to be approved, and allows them to authorize on
the Internet while away from the office, from anywhere in the world.
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