eBanking transactions hit P8.3B

The United Coconut Planters Bank (UCPB) has reported electronic banking transactions hit P8.28 billion last year, equivalent to a 16-percent growth from the P7.14 billion in 2004.

Volume transactions rose by 21 percent to 4.12 million in 2005 from 3.41 million the previous year.

Electronic banking offering comprises of telephone banking, internet banking for large corporate and institutional clients, internet banking for individuals and small businesses, and a web-based payment facility for both corporations and individuals.

The total number of users enrolled for these services reached 63,307 in 2005, up 24 percent from 51,234 a year ago.

UCPB senior vice president Enrique L. Gana said telephone banking, with 50,485 users, continued to account for the bulk of electronic banking transactions in 2005, recording transaction volume of 1.65 million valued at P5.32 billion during the year.

However, he said, the growth in the bank’s electronic banking services last year came mainly from the hefty increase in the usage of the banks corporate internet banking facility, UCPB.biz, and its retail Internet banking facility, UCPB Connect.

The value of UCPB.biz transactions increased three times to P1.06 billion from P345 million as volume of transactions increased fivefold to 339,359 from 68,793, Mr. Gana said, adding that the number of UCPB.biz users also nearly doubled to 197 corporations from 104 corporations.