CICS MC 3656
May 26, 2021
TO : All CICS participating banks/Institutions
RE : READINESS OF CLEARING PARTICIPANTS TO PCHC INTRODUCED PROCESS ENHANCEMENTS
1. In connection with the process enhancements that were earlier introduced by PCHC, we wish to know the status of
the readiness of clearing participants to integrate these enhancements with their respective internal processes.
2. It is the general objective of these initiatives to establish additional layers of controls that are aimed at significantly
reducing if not preventing potential frauds caused by double/multiple presentations of already negotiated/paid
3. We strongly enjoin all participants to accomplish the attached survey form and submit on or before June 8, 2021.
Results of the survey will be presented to the PCHC Board IT Steering Committee for its assessment/recommended
4. Please email duly accomplished survey form, to wit:
5. We count on your full support and utmost cooperation.