Security Bank accelerates digital transformation with fresh apps

MSMEs are a key focus of the Philippine lender’s modernization efforts.

Security Bank is pushing forward with a technology overhaul that seeks to deliver faster, simpler, and a more rewarding banking experience across its retail and business segments.

The initiative includes revamped digital platforms, fresh mobile apps, and advanced artificial intelligence (AI) integration, with major rollouts scheduled for the third quarter, Lucose Eralil, Security Bank’s chief operating officer and senior vice president, told Asian Banking & Finance.

The Philippine lender’s transformation spans its entire technology stack—from branch systems to mobile and online banking platforms.

Among the upgrades is the launch of a fresh mobile app for retail banking that features real-time data streaming, two-factor authentication, and unified account integration. As of May 2025, the app had more than 900,000 active users and processed more than 20.5 million transactions, Eralil said in a video interview.

Security Bank is also implementing “segment-specific strategies” across its operations. In retail banking, it includes re-architecting its online banking infrastructure, introducing digital onboarding and e-Know Your Customer (e-KYC) processes, upgrading ATM fleets, and launching personal finance management tools, he added.

For business banking, the focus is on trade and supply chain management. The bank is revamping its online platform and digital onboarding systems to better serve corporate clients and micro, small, and medium enterprises (MSME).

Two apps—the Security Bank Enterprise app for large companies and  Security Bank Business app for MSMEs—will be launched in the third quarter. “We’re also introducing a new wealth platform that will streamline portfolio management and offer comprehensive reporting and insights,” Eralil separately said in an emailed reply to questions.

The lender is exploring the use of conversational and agentic AI to enhance decision-making and customer service. AI-driven fraud management, customer lifecycle management, and personalized marketing technologies are among the innovations being tested.

MSMEs, which account for more than 99% of businesses and 60% of the workforce in the Philippines, are a key focus of the bank’s modernization efforts.

Eralil noted that these companies face persistent challenges such as limited access to credit and cash flow issues. Security Bank wants to plug these gaps with tailored financial solutions, marketing support, and technology integration, he added.

Strategic partnerships have played a key role in accelerating the bank’s digital transformation. Collaborations with vendors have allowed the delivery of real-time, always-on payment services, with the bank now processing about three million transactions monthly.

Security Bank’s ecosystem approach includes partnerships that expand its service offerings and vendor collaborations that bring global best practices to its operations, Eralil said. Notable partners include Amazon Web Services, which supports the bank’s cloud migration; Qualtrics, which enhances customer feedback mechanisms; and Capgemini, which helped launch a centralized payment hub integrating domestic and international payment rails, he added.