MANILA, PHILIPPINES — SeaBank Philippines (A Rural Bank) won the top award in the Best Security Application in Payments Initiative category and the highly-acclaimed recognition in the Best Data and Analytics Application in Payments Initiative at the Global Payments Innovation Awards 2023. This year’s Global Payments Innovation Awards, organized by The Digital Banker, received a record number of submissions from over 300 banking institutions across six continents.
SeaBank’s implementation of world-class security standards has been a key priority of the Bank, leading it to a win in the Best Security Application in the Payments Initiative category. “This reflects our commitment to offering our users peace of mind when banking online by reducing the risk of unauthorized access and fraudulent activities as well as providing a secure environment for seamless and protected financial transactions,” said Jan Ng, Head of Payments, Deposits, and Transfers of SeaBank, during his acceptance speech.
SeaBank also takes an unconventional approach by warning its customers of potential system issues at other banks before the affected banks formally announce it. “We proactively monitor and identify patterns consistent with system downtime, at both our internal and partner bank systems, to ensure that users enjoy seamless transactions and are well-informed on unforeseen issues arising from payment platforms. This enables them to transact with ease and confidence,” Jan added. “If we see a potential issue at other banks, we immediately put a warning on our app.
Jan also discussed the Bank’s vision for the future. “SeaBank is dedicated to providing secure and hassle-free payment experiences that promote financial inclusion, digital banking adoption, and convenient financial services for all Filipinos.”
