With the Philippines now slowly reopening its economy, companies such as Security Bank are seizing the opportunity to transition to the cloud to modernize and streamline their financial processes, as well as eliminate human error to deliver an integrated financial analysis across all its business units moving forward.
Leveraging on the Oracle Fusion Cloud Enterprise Resource Planning (ERP), the Security Bank is able to control its finance, procurement, and reconciliation processes better. With operations like these now streamlined, the financial institution will be able to execute more data-driven decision-making.
“Our customers are at the heart of everything we do. Moving to Oracle Fusion Cloud ERP was a natural progression for the bank to improve analytical capabilities, efficiency, and operational agility. The insights we derive will help us deliver better banking,” said Sanjiv Vohra, Security Bank president and CEO.
Backed by the ERP system implemented by Oracle Consulting, the bank hopes to respond quicker in a business landscape that constantly shifts, while still scaling strategic resources based on the needs of the market.
Oracle Philippines managing director Mina Lim explained that organizations across Asia are now leveraging the power of cloud to innovate and transform their respective businesses.
“By selecting Oracle Fusion Cloud ERP to achieve its next phase of growth and meet its evolving business needs, Security Bank has established an integrated business platform that offers continuous innovation to effectively support the bank’s current and future business needs,” Lim said.
Security Bank was recently named as the Best Retail Bank in the Philippines for the third time in four years by financial capital markets magazine Alpha Southeast Asia. Its consumer finance arm SB Finance Corp. is also teaming up with Grab Philippines in offering personal loans to Grab app users, their driver partners, and merchant partners.