SeaBank Philippines Inc. (A Rural Bank) won the top award in the Best Security Application in Payments Initiative category and the highly-acclaimed recognition in the Best Data and Analytics Application in Payments Initiative at the Global Payments Innovation Awards 2023.
This year’s Global Payments Innovation Awards, organized by The Digital Banker, received a record number of submissions from over 300 banking institutions across 6 continents.
SeaBank’s implementation of world-class security standards has been a key priority of the bank, leading it to a win in the Best Security Application in the Payments Initiative category.
“This reflects our commitment to offering our users peace of mind when banking online by reducing the risk of unauthorized access and fraudulent activities as well as providing a secure environment for seamless and protected financial transactions,” said SeaBank head of payments, deposits and transfers Jan Ng during his acceptance speech.
SeaBank also takes an unconventional approach by warning its customers of potential system issues at other banks before the affected banks formally announce it. “We proactively monitor and identify patterns consistent with system downtime, at both our internal and partner bank systems, to ensure that users enjoy seamless transactions and are well-informed on unforeseen issues arising from payment platforms. This enables them to transact with ease and confidence,” Ng said.
“If we see a potential issue at other banks, we immediately put a warning on our app”
Ng also discussed the bank’s vision for the future. “SeaBank is dedicated to providing secure and hassle-free payment experiences that promote financial inclusion, digital banking adoption and convenient financial services for all Filipinos.”
SeaBank provides a wide range of financial products and services aimed at helping improve the lives of many through technology. Regulated by the Bangko Sentral ng Pilipinas, SEARB was formerly known as Banco Laguna Inc. and is majority-owned by Sea Limited, a global consumer internet company founded and headquartered in Singapore and listed on the New York Stock Exchange.
SeaBank PH is committed to improving accessibility to financial services among rural communities and the underserved through customer-centric banking solutions with best-in-class UI/UX and market-leading digital propositions anchored on exemplary customer service and data security.
