Security Bank has taken a significant step to achieving its vision of customer-centricity with its newly established Business Banking Segment (BBS), servicing Micro, Small, and Medium Enterprises (MSMEs). With MSMEs comprising 99.5% of business firms in the Philippines, BBS aims to extend much needed support to this priority segment, enabling them to regain more solid footing and contribute to economic recovery.
“We are very excited to serve our MSME clients through our Business Banking segment,” says JD Yap, SVP and Business Banking Segment Head. “BBS has a strong team and structure in place to understand the individual behind the business and the fundamentals of the business itself. We will continue to innovate to meet the needs of MSMEs—transform the lending journey with faster turnaround times, develop new product bundles, and optimize interactions through digital channels.”
BBS offers relevant products and services that cater to its clients’ needs. It provides clients with Business Plus, an affordable checking account that comes with free access to the Bank’s award-winning cash management platform, DigiBanker. It also offers loan products to fuel business’ growth and business insurance through the Bank’s partnership with FWD.
We have two key loan products – Business Mortgage Loan (BML) allows customers to loan up to 80% of the appraised value of their collateral. Clients can loan up to PHP30 million and pay up to 20 years in monthly installments. For Clients looking for more flexibility in their fund use for their shorter business cycles, they may choose a Revolving Credit Line (RCL) version of BML where it gives them access short term funds from ranging 6 to 12 months. For those needing a collateral-free loan, our fast Business Express Loan (BEL) allows clients to get up to PHP5 million to help grow their business.
“Every MSME has unique business goals and challenges that entail customized services and solutions. BBS’s non-lending and lending products can help them meet their objectives through financial inclusion, holistic support, and tailor-fit products and services,” says Marjorie Esplana, FVP and Head of BBS Sales.
Security Bank’s Business Banking Segment hopes to capture 20% of MSMEs in the next 3 to 5 years. This will be done through enhancements in various customer touchpoints such as branch banking, telesales, social media, client support, and business development.