Security Bank today announced a partnership with identity security company Entrust. This collaboration focuses on enhancing the bank’s electronic Know Your Customer (eKYC) process, aiming to provide a more seamless and secure digital onboarding experience for customers via its new mobile app.
According to the bank, the initiative supports its goals for providing secure, customer-focused banking services. The bank is implementing this change during a period of anticipated high growth in the Philippine digital banking sector.
As part of changes to its digital onboarding, Security Bank is integrating the Entrust Onfido Studio platform.
Such technology provides robust identity verification with advanced fraud detection, including capabilities to identify deepfakes. Its flexible nature allows the bank to customise workflows while meeting regulatory compliance standards.
Harvinder Singh, Regional Vice President at Entrust, stated they are proud to support Security Bank’s vision with technology that makes onboarding “both more secure and convenient,” maintaining high-security standards.
Security Bank reports the partnership is showing positive results, citing improvements in customer onboarding completion rates and reduced processing times. This is supported by ongoing assistance from Entrust technical specialists helping to optimise the user experience.
Juan Mestas, SVP at Security Bank, called the partnership “a testament to our BetterBanking commitment,” enhancing security, accessibility, and convenience across customer interactions. Looking forward, the bank plans to extend these identity verification capabilities across other services.
Featured image credit: Edited from Freepik.
