Security Bank to ramp up digital transformation

SECURITY BANK Corp. will continue to invest in technology to advance the digital transformation of its services, it said on Sunday.

The bank said that under its multi-year roadmap, it will make more strategic technology investments in artificial intelligence (AI), automation, and cybersecurity, among others.

“Security Bank is building a modern, secure, and customer-centric foundation designed to support sustainable growth while continually improving customer experiences,” Lucose T. Eralil, Security Bank executive vice-president and chief operating officer, said in a statement.

“Our progress reflects disciplined execution and a forward-looking approach, and these recognitions reinforce the strength of the transformation we are delivering,” he added.

The bank has moved to streamline its core systems and processes as part of its digitalization journey as it transitions toward a platform-based, application programming interface (API)-enabled, real-time digital banking environment, it said.

This has been supported by enterprise API deployment at scale, fully digitized branch compliance processing, real-time enterprise data streaming capabilities, and having security and resilience embedded by design.

Under its roadmap, the bank plans to invest more in AI and automation for fraud management, service, and its general operations as it looks to increase digitalization, even at the branch level.

It is also looking to ramp up its cybersecurity measures and real-time threat monitoring.

Security Bank will also continue to modernize its core banking and payments services to enable real-time services.

The bank added that it is working towards increased API monetization and embedded finance partnerships.

“By transforming banking capabilities into secure, reusable API products, the bank now enables faster deployment of new services, more consistent digital experiences, and seamless integrations across channels — supporting growth and market agility while strengthening open banking readiness,” it said.

“Collectively, these deliver BetterBanking experiences for customers, stronger operational performance, and enhanced competitiveness and scalability for future growth… These initiatives strengthen the bank’s operational resilience and scalability delivering faster, safer, and more seamless customer experiences, reinforcing its BetterBanking commitment.”

Security Bank’s net income grew by 6.7% year on year to P3.2 billion in the third quarter, bringing its nine-month profit up by 7% to P9.1 billion.

Its shares climbed by P1.75 or 2.73% to close at P65.95 apiece on Friday. — K.K. Chan