Security Bank forges ahead with 71 years of ‘BetterBanking’

SECURITY Bank Corp., one of the Philippines’ leading universal banks, has been serving retail, corporate, institutional and MSME clients since it opened its doors in 1951.

In the 1980s, while expanding its branch network, the bank launched various innovative credit and trust products that have become forerunners of many of today’s industry offerings. It was a pioneer in the country’s credit card industry with the launch of the first credit card franchise through Diners Club.

In 1991, new majority owners led by current chairman emeritus Frederick Dy took over Security Bank, provided a fresh direction, and in 1995, the bank was listed on the Philippine Stock Exchange.

In 2016, Japan’s banking giant MUFG Bank Ltd. invested P36.9 billion for a 20 percent stake in Security Bank — enabling both organizations to leverage crossborder capabilities and further innovate their financial products and services.

Building on a heritage of BetterBanking service, as recognized over the years by The Asian Banker, Euromoney, Asiamoney, Alpha Southeast Asia and many others, Security Bank embarked on a new journey in 2020. Amid the pandemic, it found opportunities to evolve and carve out paths for growth.

With changing customer behaviors and business needs in mind, the bank pivoted to invest in service differentiation.

Anchored on a vision to become the most customer-centric bank in the Philippines, Security Bank focused its lens on high-growth sectors in retail, wholesale and MSME segments — understanding and investing in what matters to clients.

In doing so, significant investments were made in people engagement and talent development, scalable infrastructure, cloud technology, as well as robust risk management controls.