Security Bank Receives 3rd Financial Insights Innovation Award for Technological Innovation

Security Bank Corporation (SBC) received another international citation from the Financial Insights Innovation Award (FIIA) 2010 recently held in Singapore. The special mention for product innovation was awarded to the ADCM Plus or Auto Debit Collections Manager Plus Security Digibanker, a real-time internet-based corporate banking Cash Management System.

This year, over 135 high-level qualifying submissions related to transaction banking products were in the running for the FIIA 2010 across the Asia/Pacific region. This is the third consecutive year that Security Bank received a citation for its technological innovations under the multi-awarded Security Digibanker with its wide suite of services and cash management solutions.

ADCM Plus is a payment facility that is integrated with the client’s e-commerce portal for greater efficiency and the flexibility to allow its trading partners, customers, dealers, distributors, to do a full cycle transaction from bills presentment to bills payment through the internet, mobile, phone, ATM or over-the-counter in any of the Bank’s nationwide network of branches.

The key feature of the ADCM Plus is its capability to interface directly with any form of portal in order to facilitate the execution of payment instructions initiated by trading partners and provide reports online for the expedient updating of transaction records.

In his message congratulating Security Bank, he stated that, ?This has the hallmarks of a sustainable innovation. I like how it addresses a high volume or mass market need in a space traditionally ring-fenced by Telco providers and so should generate both direct and augmented value for the bank.?

He further added, ?The customers can of course have these payment functionalities provided through other means, but this streamlining of the value proposition, process and hence cash management benefits have added real value to the customer base?.

IDC Financial Insights, the region’s leading research and advisory firm, run the Financial Insights Innovation Awards (FIIA) to pay tribute to the most innovative use of information technology in day-to-day business operations by Asia/Pacific financial institutions. Results of the FIIA 2010 were announced on the second day of the Asian Financial Services (AFS) Congress which was held in Singapore on the 25th and 26th of February this year.