Salary Advance (SALAD): Making Ends Meet Everyday Qorus Banking Innovation Awards 2019

Security Bank’s BetterBanking brand promise is that we serve products and services that fit the customers’ needs and giving premium and seamless customer journey in every bank transaction. We observed that most of its payroll customers are minimum-wage earners with less than PHP 120,000 of annual salary. Because of this income range, these people do not have the privilege to get a loan from universal banks. Security Bank launched Salary Advance or SALAD, a fully automated, mobile, platform capable of providing employees with instant salary advances anytime, anywhere. Gone are the days when employees wouldn’t be able to access funds during times of greatest need. With SALAD, users can access funds 24/7, and can check on salary loan applications and enrollment, real time. With the introduction of dynamic pricing schemes, the launch of a mobile program, and the consistent review of productivity data and the status of wholesale banking partnerships, the future for SALAD looks bright. SALAD was also recognized internationally as the “Best Loan Offering” at the Asia Trailblazer Awards 2018 and “Financial Inclusion Initiative of the Year” at the Asian Banking and Finance Awards 2018. Booking rates have continually risen, and as the needs and preferences of clients continue to evolve, so will Security Bank’s commitment to delivering BetterBanking through breakthroughs that stand to serve, enhance, and inspire.