Security Bank has announced a strategic partnership with Entrust, a global leader in identity-centric security solutions.
This collaboration is aimed at enhancing Security Bank’s electronic Know Your Customer (eKYC) process, a key component of the bank’s digital transformation initiatives. Entrust is renowned for its comprehensive security solutions that support secure digital identity verification across various industries.
The partnership was formed to streamline and secure the digital onboarding process for Security Bank’s customers, leveraging the advanced features of the Entrust Onfido Studio platform. This platform includes cutting-edge security measures such as deepfake detection and advanced fraud detection capabilities, ensuring a secure and seamless customer experience.
Entrust’s Onfido Studio platform is distinguished by its robust security features and its flexible orchestration capabilities, which allow for the creation of customised onboarding workflows that adhere to regulatory standards. Security Bank’s decision to partner with Entrust was driven by Entrust’s proven track record in delivering effective solutions that enhance security and customer satisfaction in the financial sector.
The partnership has already yielded significant improvements for Security Bank, including an increase in the completion rate of customer onboarding and a reduction in onboarding times. Security Bank is benefiting from the dedicated technical support from Entrust, which includes ongoing enhancements and the sharing of best practices to further refine the user experience.
While the initial focus of the partnership is on improving the retail banking onboarding experience, there are plans to expand the use of Entrust’s identity verification solutions across a wider range of Security Bank’s services. This expansion aims to ensure a consistent level of security and convenience across all digital banking touchpoints.
“Our partnership with Entrust is a testament to our BetterBanking commitment to our customers,” said Juan Mestas, SVP and Strategy, Innovation Architecture, and Platform Division Head at Security Bank. “By leveraging Entrust’s advanced identity verification technology, we’re not only enhancing the security and accessibility of our banking services but also ensuring that every customer interaction—digital or in-person—is convenient and reliable. Looking ahead, we plan to expand these capabilities across other services to give customers the best experience possible.”
“Security Bank is transforming digital banking in the Philippines, and we’re proud to support their vision with advanced identity verification that makes onboarding both more secure and convenient,” said Harvinder Singh, Regional Vice President of Sales, APAC at Entrust. “Our solution helps Security Bank deliver the experience their customers expect, while maintaining the highest standards of security and fraud prevention.”
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