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July 21, 2024

Security Bank wins award for best payment solution

Security Bank Corporation received the “Best Payment Solution in the Philippines” award for its Billing/Invoice Presentment and Payment System (BIPPS) from Alpha Southeast Asia at the 17th Annual Best Deal and Solution Awards 2023 held on January 31, 2024 in Kuala Lumpur, Malaysia.

The event recognized exceptional achievements and innovations in the finance sector.

Following a week-long intensive review of more than 70 bank submissions, covering over 150 deals and solutions from commercial and investment banks across Southeast Asia, Security Bank’s BIPPS stood out. Its pioneering approach to streamlining billing processes and enhancing the payment experience for both businesses and consumers garnered well-deserved recognition.

“Security Bank not only introduced a straight-through settlement solution encompassing both online and traditional over-the-counter bills payment options for customers, but also provided an easy integration process for new merchants with no major system development or reprogramming requirements. In essence, this multi-faceted solution aims to enhance overall ease of payment, tracking, and reporting for all parties involved,” said Alpha Southeast Asia.

BIPPS, an innovative settlement facility within Security Bank’s award-winning DigiBanker app, has revolutionized payment solutions by offering a seamless end-to-end order-payment settlement process. Merchants can effortlessly post billings and invoices, while customers have the convenience to log in and choose the bill to pay, along with their preferred payment method.

Security Bank first vice president and transaction banking group sales head Robbie Pablo expressed gratitude for the recognition and highlighted the bank’s commitment to technological innovation.

“Securing the Best Payment Solution award at the 17th Annual Best Deal and Solution Awards serves as a concrete testament to our relentless commitment to deliver cutting-edge solutions for our valued customers. BIPPS represents our commitment to making financial transactions smoother, focusing on security and efficiency,” Pablo said.

In 2023, Security Bank also received prestigious accolades, being named the Best Retail Bank in the Philippines by Alpha Southeast Asia and the Best Corporate Bank in the Philippines by Asiamoney. This award further solidifies Security Bank’s position as a leader in the financial industry, as it continues to deliver innovative solutions tailored to the evolving needs of its customers.