ANZ Bank, one of the leading banks in Australia and New Zealand, has teamed up with Security Bank for the cash management and other banking requirements of its institutional clients operating in the Philippines.
Security Bank announced on Wednesday that it had signed a “network extension partnership (NEP)” with ANZ.
Through the NEP agreement, Security Bank said ANZ could capitalize on its suite of cash management products and services like bills payment, check-cutting, government statutory payments, and payroll processing for ANZ’s local and multinational corporate clients.
ANZ’s customers are thus seen to benefit from Security Bank’s pitch to deliver “better banking.”
In turn, Security Bank expects to leverage on ANZ’s global presence and well-founded relationships with multinational corporations.
“Through our multi-awarded cash management products and services, we make banking as simple and convenient as possible without sacrificing security”, said Security Bank executive vice president and transaction banking group Head Daniel Yu. “We are excited to be able to offer those products and services to ANZ”.
With this deal, “ANZ recognizes the capabilities of Security Bank to give customized innovative solutions for its Institutional customers and to provide better efficiencies for their banking transactions,” the statement said.
Security Bank was recently hailed as “Best e-Bank, Philippines” for 2016 by The Asset Awards. It was likewise named “Bank of the Year-Philippines” for 2016 by London-based publication The Banker.