UCPB e-transactions near P1-B mark

Customer transactions over United Coconut Planters Bank’s new electronic banking channels are nearing the P1 billion mark, reflecting the increasing popularity of the bank’s IT-based delivery systems among its clientele.

UCPB said that from only P6.9 million in May 2001, when the new telephone and online banking channels were launched, customers’ monthly electronic transactions hit P165.6 million in December 2001. Over the seven-month period, the total value of the electronic transactions amounted to P900.5 million. This figure excludes transactions over UCPB’s ATMs, which process another 1.2 million individual transactions a month.

"UCPB is emerging as a market leader in electronic banking services," said UCPB vice president for marketing Rosario Tan.

UCPB customers may now use their landline, mobile phone, personal computer and personal digital assistant to perform practically all their routine financial transactions even beyond the normal banking hours and even without going to their branches. "Customers may be stuck in traffic or out in the beach on vacation and they would still be able manage their accounts," Tan said.

To leverage on its technology investments and extend its market reach, UCPB has formed a dedicated technology research and development unit called Strategic Innovations which studies emerging technologies and explores their financial services application.