Security Bank launches program for MSMEs beyond banking
SECURITY BANK CORP. has launched a program to help its micro, small, and medium enterprise (MSME) clients with business registration and renewal, legal support and other services in their quest for growth.
The Philippine lender’s Beyond Banking Partnership program also provides timekeeping and payroll, business intelligence and data analytics, and tax filing services, as well as discounts and access to third-party partners, it said in a statement on Tuesday.
The program was announced at a signing ceremony with partners on Sept. 4.
“Beyond Banking is more than just a concept; it’s a commitment to going above and beyond traditional financial services,” Security Bank Senior Vice-President and Micro and Medium Head John David G. Yap said in the statement.
“It’s about creating a holistic ecosystem where our MSME customers can thrive in every part of their business journey. We’ve brought together a diverse group of partners who share our mission of being the most reliable partner for MSMEs in the Philippines,” he added.
The program includes partnership opportunities with Empleyado, which offers a cloud-based human resource system for employee records, attendance, salary management, and recruitment.
“Security Bank has helped expand our human resource information system platform to more organizations,” Empleyado Chief Financial Officer Arlyn Kim said. “Your commitment to innovation matches our goal to improve HR in the Philippines.”
Meanwhile, FilePino, Inc. helps entrepreneurs set up their business and expansion.
“Registering and renewing permits in the Philippines offers legal protection, access to financial resources, government support and networking opportunities,” FilePino President Marie Christine Duran Schulze said in the statement.
Another partner under the program is My-LegalWhiz, which provides virtual legal support to MSMEs without the resources for traditional legal services in labor, corporate governance, commercial transactions, and taxes.
“Bundling MyLegalWhiz with Security Bank’s services helps businesses focus on their strengths by providing excellent legal and financial support,” MyLegalWhiz President Dexter Feliciano said.
The program also includes SYCARDA, a business intelligence platform that turns data into insights to help businesses sell smarter.
“SYCARDA gives insights on customer behavior, spending patterns, operational efficiency and inventory management. We’ve helped many businesses increase revenue and cut costs,” SYCARDA Chief Executive Officer Vernon Chua said.
Meanwhile, Taxumo allows self-employed professionals, small business owners and corporations to file and pay taxes conveniently.
“Like Security Bank, we aim to empower businesses by offering seamless, efficient and hassle-free financial and tax solutions,” Taxumo Chairman EJ Arboleda said.
The Beyond Banking Partnership program was launched on the back of a 68% loan growth for the bank’s business banking segment after its launch last year.
Security Bank’s net income rose by 10.2% year on year to P2.82 billion in the second quarter amid higher revenue. — Aaron Michael C. Sy