Security Bank partners with Euronet

SECURITY BANK Corp. has partnered with Euronet to roll out automated teller machines (ATM) that will serve businesses and their employees, as the lender tries to lure more corporate clients.

“Through this initiative, we aim to better serve our payroll and corporate clients by offering on-site access to cash, right at their offices,” Security Bank Executive Vice-President and Chief Operating Officer Lucose T. Eralil said in a statement on Sunday.

“It’s a practical, forward-thinking solution that simplifies everyday banking and brings financial services closer to where they’re needed most,” he added.

Under the partnership, Security Bank will use Euronet’s ATM infrastructure and Ren payment platform to deliver banking services to its business clients and their employees.

The partners will launch co-branded, white-label ATMs in office spaces and commercial hubs to improve access to cash and financial services for payroll and corporate accounts.

The ATMs will give employees easier access to their salaries, expand ATM coverage in underserved and high-traffic areas and provide payroll services with built-in cash management features. Employers, in turn, are expected to benefit from reduced cash handling and improved operational efficiency.

“This strategic alliance positions the ATM as a key channel for expanding our payroll services, attracting new corporate clients and delivering faster, more reliable access to cash,” said Security Bank Senior Vice-President and Retail Channel head Myla R. Untalan.

“With Euronet’s wide ATM network, we’re enhancing both reach and service quality for our clients,” said added.

Security Bank said the tie-up supports its push to boost its payroll and corporate banking portfolio while attracting more business clients.

The lender posted a 7.32% increase in net income to P2.82 billion in the first quarter, driven by steady growth in loans and deposits. — Aaron Michael C. Sy