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UCPB recognized for excellence in Straight-Through Processing

UCPB recognized for excellence in Straight-Through Processing
The UCPB team led by UCPB Senior Vice President and Operations Group Head Arnel A. Valles (2nd from right) received the award from Standard Chartered Bank Associate Director and Client Manager Odette Paela, Correspondent Banking Director Rajesh Vedamtham and Director and Financial Institution Sales Head Aileen Guce (1st, 2nd and 6th from left). Mr. Valles was joined by UCPB Vice President and International Banking Division Head Justiniano M. Babate and former (now retired) AVP/Remittance Services Department Head Elzeber O. Murallos (3rd and 4th from right) during simple ceremonies at City Club, Alphaland, Makati City.

UCPB was recognized by Standard Chartered Bank with a Straight-Through Processing (STP) Excellence Award for its seamless payment transactions. This is the second consecutive year that UCPB received the award.

Straight-Through Processing enables the recipient bank to electronically receive and process payment transactions from the host bank, increasing efficiency and preventing any delay in the execution of payments. UCPB was cited for its excellence in operational efficiency, posting higher than 95% in the processing of payments.

“We extend our gratitude to our partner Standard Chartered Bank for this recognition. This demonstrates UCPB’s commitment to excellence in serving our end-clients and partners for their payment requirements. We hope to further enhance this system to bring utmost efficiency and accuracy in delivering payments,” Mr. Valles said.

Date published: February 6, 2019

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Customer Advisories

BSP’s Warning Against the Improper Handling of Philippine Currency

The Bangko Sentral ng Pilipinas (BSP) warns the public that the willful defacement, mutilation, tearing, burning or destruction of Philippine banknotes and coins are punishable by a fine of not more than PHP20,000.00 and/or imprisonment of not more than five years, under Presidential Decree No. 247. It also states that Philippine “banknotes and coins are issued for circulation as medium of exchange and to utilize them for other purposes does not speak well of the due respect and dignity befitting our currency.”

The following are among the prohibited acts of defacement and/or mutilation of Philippine currency:

writing or putting marks on banknotes;
willful tearing, burning, or destruction, in any manner, of Philippine currency;
willful and excessive folding or crumpling that results in a breakdown of the structure and limpness of the banknote;
willfully causing multiple random folds across the entire banknote that toughly affect its visual appearance; and
willfully exposing banknotes or coins to chemicals or other materials resulting in the acceleration of the defacement, destruction, or natural wear and tear of the note or coin.

The public is also discouraged to staple banknotes and/or use adhesives to put on banknotes and coins as these will compromise their structural integrity.

The BSP encourages the public to report any information on improper handling of Philippine currency to the nearest police station or law enforcement agency, for appropriate action, or contact the Currency Management Sector for assistance at Tel. Nos. 988-4833 and 926-5092.

http://www.bsp.gov.ph/publications/media.asp?id=4943&yr=2019

System Maintenance Schedule: June 8, 2019 (12AM) to June 9, 2019 (11:59PM)

Please be advised that BancNet will conduct a system maintenance starting, Saturday, June 8, 2019 from 12:00 AM until 11:59PM Sunday, June 9, 2019. No downtime is expected but the activity may affect system performance.

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