Security Bank Receives Award of Recognition from the Bureau of Customs

Security Bank recently received an award of recognition from the Bureau of Customs (BOC) as the first bank to use the Electronic to Mobile (e2m) Customs System via Project Abstract Secure System 5 (PASS5).

The e2m Customs System is part of the P500-million automated system for customs data of the BOC. It allows importers and their brokers to send their customs declarations to the BOC and receive payment instructions from the agency and remit their customs duties through an Authorized Agent Bank (AAB) online. It features client profiling, where payers will be issued permanent client numbers and electronic signature for documents to be submitted to the system.

Security Bank used e2m through PASS5, a system designed by the BOC to provide a standard framework where the AAB can process the payment of customs duties and taxes of their clients and electronically transmit reports of collection of customs, duties and taxes directly to the BOC.

The e2m Customs System is under Security DigiBanker, a fully internet-based suite of cash management solutions. Security DigiBanker provides its customers with an internet browser-based window to electronic execution and delivery of a wide range of services, including real-time funds monitoring, collections, check payments outsourcing, corporate tax and bills payments, and other operating funds applications.

Security Bank”s award of recognition from the BOC, announced during the formal “OC Systems Launch e2m Customs Project, Import Assessment System (IAS)” at the BOC Batangas Port, complements the special citation Security Bank recently received from Financial Insights for its transaction banking initiative.