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Keisha Ta-Asan - The Philippine Star
June 1, 2025 | 12:00am
In this undated photo, a banking client enters a branch of Security Bank (PSE: SECB).
AFP, file
MANILA, Philippines — Security Bank Corp. has partnered with online automotive marketplace AutoDeal to offer Filipinos a fully digital car buying and financing experience, streamlining the process from vehicle selection to loan application.
The collaboration was formalized through a Memorandum of Agreement (MOA) signing ceremony held on May 21 at the Security Bank Center in Makati City.
Bringing together AutoDeal’s robust vehicle search and dealer network with Security Bank’s fast and flexible auto loan services, the partnership promises a one-stop digital platform for car buyers.
Customers can now browse vehicles, request dealer quotations and apply for an auto loan all from the AutoDeal website or mobile app.
“At Security Bank, we’re always looking for new ways to improve our customers’ experiences, Paz Gonzalez, senior vice president and head of secured lending at Security Bank, said.
“This partnership with AutoDeal will enable us to bring our BetterBanking service directly to car buyers by combining the strength of our Auto Loan products with the convenience of a digital automotive marketplace,” Gonzalez said.
AutoDeal co-founder Christopher Franks said the tie-up reflects their shared commitment to making the car buying process more seamless and accessible for Filipinos.
“We’ve always believed in empowering consumers with better choices and greater convenience,” Franks said. “By integrating financing options directly into our platform, we’re helping car buyers take one more step toward completing their journey entirely online,” he said.
The launch comes as the Philippine auto loan market gains momentum, with vehicle loan growth rising by 18.8 percent year-on-year as of end-March and car sales climbing by seven percent in the first quarter.
With interest rates projected to decline further this year, the new partnership is expected to drive even more demand from consumers looking for affordable and convenient car ownership solutions.
