In a formal signing ceremony, Security Bank Corporation, one of the leading private domestic universal banks in the Philippines, recognized for its expertise in treasury services, signed a contract with CCK Financial Solutions Ltd for CCK’s Guava Suite.

Rafael S. Algarra, Senior Vice President and Treasurer of Security Bank, said “to sustain our leading position in the treasury market, we are driven to be ahead on product innovations and we continuously strive to provide our clients improved services. As an example, we explored technological solutions when we were looking at expanding our derivatives license; Guava was chosen because it enabled us to have a platform for improved efficiency.” Mr. Algarra was recently awarded the Promising Young Banker Award at the Asian Banker Achievement Awards.

Daniel Yu, Senior Vice President and Chief Information Officer of Security Bank said “We looked for the best in the market and Guava’s flexibility as well as its potential to deliver very high levels of automation met our standards. We adopted the Guava Suite not just for our derivatives trading but to replace our existing system and be the platform for the Bank’s entire treasury requirements.”

CCK is a specialist treasury systems provider, with headquarters in Perth, Australia. CCK released Guava Suite, which is its third generation of treasury solutions, in 2002. Guava Suite covers the dealing, risk management, operations, accounting and reporting requirements of a treasury within a single system.

Joseph Wong, Managing Director of CCK, said “CCK has made a commitment to the Philippines market by setting up our own office in Makati. This follows on our contract with another leading Bank which was announced last month. It is now our second migration from Opics to Guava, and establishes Guava as a market leader in treasury technology in the Philippines. This selection by two of the top banks in the treasury space in the Philippines highlights the superiority of Guava’s break through technology. Guava’s functionality will improve the Bank’s ability to service its customers, as well as streamline its internal processes through automation.”

Treasury is an area which is subject to accelerating pace of change. Guava’s unique feature of allowing customization by the bank, whilst automatically maintaining an easy upgrade path with regular new releases of the software, future-proofs the bank.” CCK has a strong client base in the region, with well known names like DBS Bank in Singapore, and ING Bank in Australia.

Security Bank is one of the Philippines' top ten private domestic universal banks in terms of assets, deposits, and capital, and consistently delivers excellent stakeholder value, by registering the highest ratios for return on equity in the industry in the past two years. It has been widely acknowledged as one of the best-managed corporations in the country, achieving continuous growth and maintaining profitability though a prudent but forward-thinking corporate style. The Bank likewise boasts of having one of the healthiest balance sheets among its peers, and is one of few banks in the industry with positive free capital.

In the treasury space, Security Bank has won numerous awards from prestigious local and international award giving bodies. They continue to consistently rank on top of surveys, including being voted the Best in the Philippines in Asiamoney’s financial polls published in May 2008 as the "Best Domestic Provider for Local Currency-Linked Products", and other recent awards from The Asset Magazine such as: "Most Astute Local Currency Bond Investor and Top Trader / Salesperson in the Philippines" ,"Best for Innovative FX Products and Structured Ideas" ,"Best in Peso Currency Bonds"and "Best Bank in Philippine Peso Government Bonds".