UCPB Posts 61% Growth in Electronic Transactions

Manila Bulletin, February 22, 2004 | Go to article overview

UCPB Posts 61% Growth in Electronic Transactions


United Coconut Planters Bank (UCPB) has posted robust growth in e-banking services in 2003 with the value of customers transactions performed over the banks electronic delivery system increasing 61 percent to R5.0 billion from R3.1 billion in 2002.

The growth reflects the continued rise in the popularity of UCPBs e-banking offerings among its clientele owing to their reliability and ease of use.

The bank currently offers four e-banking services UCPB Telebanking, UCPB Connect retail Internet banking facility, UCPB.biz corporate banking facility and UCPB 1Time Internet payment facility.

These services are available 24/7 and provided free of charge to bank clients.

By the end of 2003, the number of corporate and individual clients using UCPBs e-banking services rose 46% to 40,698 from 28,421 in 2002.

Their volume of transactions during the year more than doubled to 2.8 million from 1.8 million in the previous year.

"UCPB is fast emerging as one of the leaders in e-banking and we will continue fortifying our market position in the years ahead in line with our corporate vision to become the best bank for clients," UCPB president and chief executive officer Jose L. Querubin said.

Querubin stressed that as the banks customers needs evolve and become increasingly sophisticated, UCPB will move to provide them more channels to access banking services and better tools to manage their financial assets.

A key initiative, he said, is the formation of a separate Transactional Banking Group, a specialized unit that has been tasked to expand UCPBs e-banking offerings with particular emphasis on the highly lucrative cash management and trade services.

UCPB Telebanking recorded the highest usage growth among the banks electronic banking channels. Accessible via a landline or mobile phone, the facility handled more than 1.4 million transactions valued at R3.9 billion in 2003 compared to 831,842 transactions valued at R2.4 billion in 2002.

A major attraction of UCPB Telebanking, apart from its easy access, is its capability to process transactions in real time. …

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