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Security Bank Corporation, one of the fastest growing universal banks in the country today signed a Memorandum of Understanding (MOU) with the second largest rural bank in the country,
One Network Bank.
The partnership will increase the presence of Security Bank, its products and services in Mindanao through One Network Bank’s 64 online branches, the most dominant in the Mindanao market. On the other hand, One Network Bank and its clients will benefit from the vast presence of Security Bank in Metro Manila and in major cities nationwide. SBC currently operates some 114 real-time branches all over the country.
A driver for success in this partnership would be the use of proprietary technology. Security Bank will make available to the Mindanao market its Security Digibanker which features an integrated suite of cash management solutions thru a single interface via the Internet. This Corporate Remote Banking Terminal will be the backbone delivery and fulfillment system. More importantly, it will allow One Network Bank and Security Bank to collaborate in terms of cash in vault (CIV) management, correspondent banking relationship (disbursements and collections), facilitation of remittance pay-outs and services for MasterCard Electronic (loan releases and collection of amortization payments), just to name a few.
Overall impact is projected to be significant. Both parties will realize efficiency gains in terms of production as well as actual cost savings in terms of operations. On the other side of the financial fence, the synergy would be a venue to discover new and untapped revenue streams that both banks can benefit from. These may come in the form of consumer, trust and investment products and services moving forward.
Photo shows Senior Bank Executives at the signing (from left): Luis
S. Elizaga, Security Bank Vice President, Antonio P. Avelino, One Network Bank Vice-Chairman,
Alex V. Buenaventura, One Network Bank President, Alberto S. Villarosa, Security Bank President and Chief Executive Officer and
Patricia May T. Siy, Security Bank Senior Vice President & Corporate Relationship Group
Head, and Numeriano V. Amparo, Security Bank Vice President.
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