Security Bank ready to assist clients with e2m transactions

CEBU, Philippines - Security Bank Corp. (SBC) announced that it is ready to help existing and prospective clients in their e2m (electronic to mobile) online transactions with the Bureau of Customs.

In a forum held on Thursday at the Laguna Garden Café, SBC first vice president and area business manager for Visayas and Mindanao Jason Ang said the bank's DigiBanker PAS5 ePayment helps clients to pay their dues to Customs online.

He said SCB is the first authorized agent to develop an innovative tool for importers and exporters that will allow them to efficiently monitor customs, duties and taxes (CDTs) payments. The tool developed Digibanker Pass e5 ePayment.

This will allow the bank’s client to enjoy the benefits of Customs e2m system, which integrates various systems allowing Customs and its stakeholders to transact Internet-enabled and SMS (short message system)-enabled transactions.   

Ang said SBC’s Digibanker PAS5 ePayment is the online module that allows companies to view and authorize the CDT payments. SBC is the first to provides customers with complete CDTs payment details lodged by their brokers and the first to secure customers’ confirmation and authorization prior to actual debiting of the bank for the amount of the CDT payments.

The process starts with the client logging in to DigiBanker to confirm CDTs payment; then SBC debits payment amount from the client’s account and processes CDTs payment in real time; SBC sends payment confirmation to BOC and BOC receives payment confirmation. The client can then check status of the payment if approved or disapproved and reason for disapproval.

Ang said the DigiBanker improves company efficiency, among others, as payment processes are streamlined, saving the company man hours and operational cost.

SCB is among the Philippines’top private domestic universal banks in terms of asses, resources, deposits, loans, capital and return on equity. Its net revenue in 2009 went 20-percent up to P7.9 billion compared with the same in 2008.

The bank, which was established in 1951, had its new majority owners led by Frederick Dy, who assumed control in 1989. It operates through a network of 125 branches nationwide with 156 automated teller machines

SCB was publicly-listed on the Philippine Stock Exchange in 1995. Its subsidiaries include SB Cards Corp., SB Capital Investment Corp., SB Equities Inc., Security Finance Inc. and SB Forex Inc.