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Friday, March 1, 2024

Security Bank, Microsoft team up to build innovative banking solutions

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Security Bank Corp., a leading universal bank in the Philippines, teamed up with Microsoft Corp. to build innovative banking solutions that streamline sales operations to ensure faster and more efficient customer-centric banking experience. 

As a leading financial organization in the country, Security Bank ensures it continues to provide clients with exceptional value by eliminating operational inefficiencies and providing BetterBanking service.  It offers retail, commercial, corporate, MSME and institutional clients a wide range of services.

“BetterBanking means investing in our customers and what matters to them. That’s why we do whatever it takes to understand and adapt to our customers’ needs. That customer-centricity is at the core of who we are,” said Security Bank head of transformation team Eden Nicole de la Peña-Charpentier.

Security Bank conducted extensive analyses to identify challenges in their clients’ operations, obviously in need of an efficient and collaborative system to improve productivity.

Preparing, completing and securing approval for sales proposals was one of the growth areas identified by Microsoft, as document handling was done manually, adversely impacting the sales team’s productivity.

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Using Microsoft technology and support, it developed its sales proposal builder application and embedded it into their collaboration platform, Microsoft Teams.

Security Bank has been utilizing Microsoft solutions such as SharePoint and Office 365 for collaboration and Microsoft Teams as their primary communication tool. Embedding SPB into Microsoft Teams made it seamless and easy for the sales team to leverage the new platform.   

Security Bank’s sales operation process is now fully digital and streamlined. From manually editing documents, their sales team can conveniently enter customer details and choose from the catalog of all bank products.

Part of what makes the SPB application a flexible, scalable and cost-effective solution is that it is hosted on Microsoft Azure.

The built-in service logic apps in Microsoft Azure enable Security Bank to automate document generation and uploading of files to SharePoint.  

Security Bank’s innovation delivered immediate impact on sales operations. With the SPB app, proposal preparation now takes only 15 to 30 minutes from a previous average of 2 hours, while the approval process from different internal groups now takes about 24 hours from two weeks.  

“Industry and society continue to face the realities of the pandemic and digital technology will be key to resilience and transformation regardless of what comes our way. Our ambition is to foster foundational innovation that will create entire ecosystems. This is what our cloud uniquely enables and is intentionally built for,” said Microsoft Philippines enterprise commercial director Beth Pangan.

“We’re thankful for this opportunity to work alongside Security Bank to not only transform and optimize their operations through technology, but to accelerate industry transformation in the Philippines,” she said.

Security Bank employees are also giving positive feedback on the platform, as 95 percent of them said it made their work significantly manageable.

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