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Sterling Bank of Asia gets BSP-PhilPaSS award anew Tuesday, August 2, 2016

Published on Business Mirror
Publish date: August 02, 2016
 
 
 SBA receives PhilPaSS Award 2016

Photo Caption: The Bangko Sentral ng Pilipinas (BSP) awarded July 13 the Outstanding Philippine Payments and Settlements System (PhilPaSS) Participant Servicing Customer ePayments Thrift Bank Award to perennial winner Sterling Bank of Asia (SBA)?its fourth in a row?at the annual Awards Ceremony and Appreciation Lunch for BSP Stakeholders at the BSP Complex, Manila, which also marked BSP’s thirteen years of giving awards to banking and financial institutions with exemplary products and services in the country.  For four straight years since 2013, SBA is a consistent recipient of the prestigious award.  In photo are Cecilio Paul D. San Pedro (3rd from left), President and CEO of Sterling Bank of Asia, and Luisito S. Mayor (2nd from left), First Vice President and Head of Business Support Services Group of Sterling Bank of Asia, are joined by BSP Governor Amando M. Tetangco, Jr. (rightmost) and Valentin A. Araneta, Monetary Board member and Chairman of the Board of Judges, during the awarding ceremonies.

 
 
NOT TWICE, not thrice, but four times in a row already.

The Bangko Sentral ng Pilipinas (BSP) awarded last July 13 the Outstanding PhilPaSS Participant Servicing Customer ePayments Thrift Bank Award to perennial winner Sterling Bank of Asia (SBA)?its fourth in a row?at the annual Awards Ceremony and Appreciation Lunch for BSP Stakeholders at the BSP Complex, Manila.

The event which carried the theme, “Sustained Partnership, Sustained Economic Growth,” also marked BSP’s thirteen years of giving awards to banking and financial institutions with exemplary products and services in the country.

For four straight years since 2013, Sterling Bank of Asia is a consistent recipient of the prestigious Philippine Payments and Settlements System (PhilPaSS) award.

“I am overwhelmed because Sterling Bank of Asia is on a roll,” Cecilio Paul D. San Pedro, President and CEO of SBA, said after personally receiving the award from BSP Governor Amando Tetangco, Jr., the members of the Monetary Board and other BSP key officials.

“We are truly grateful for this recognition.  It is another honor I share with the rest of the Sterling Bank of Asia family as our bank continues to perform excellently through the years,” he added.

The award recognizes SBA’s remarkable performance in terms of volume, frequency and value of remittances and customer electronic payment transactions sent to PhilPaSS for processing and settlement. 

PhilPaSS is the real time gross settlement system implemented on December 12, 2002 and operated by the state-run BSP with the overall aim of improving financial market efficiency.  

The process involves the transfers of funds in real time and handling of high-value payments among banks through their BSP accounts.  For the first quarter of 2015 alone, PhilPaSS had a volume of more than 340,000 transactions with a value of over Php 70 trillion.

“As always, Sterling Bank of Asia assures our customers of products and services they can rely on, including the best security features in transactions.  We’re grateful that these assurances have been validated (through this award),” San Pedro added.

Mr. San Pedro also vowed to continuously update the Bank’s technology and to put a premium to excellent customer experience. 



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