Pag-IBIG Fund provides members e-facility for savings and loans

Posted on . Filed under TechnologyUseful Articles. Be the first to comment.

In line with the Philippine Government’s initiative to improve its performance in Ease of Doing Business (EOBD), and to enhance its services to its members, Pag-IBIG Fund came up with the electronic payment and collection facility (EPCF) to streamline the payment process for its members savings and short-term loan amortizations, resulting in enhanced and improved service to members through the use of technology.

The EPCF is an innovative project that provides a fast, accessible, convenient, effective, and efficient way for member-employers to remit the members savings (MS) and pay the short-term loan (STL) amortization of its members. In addition, the project will de-clog Pag-IBIG Fund branches, since the representatives of member-employers do not have to go to the branches anymore to pay their employees’ MS or STL amortizations. Furthermore, the project is also environment-friendly since e-banking involves paperless transactions.

The Fund’s “Electronic Payment and Collection Facility: Faster and Convenient Transactions for Members, Efficient Recording and Savings for the Fund” won the 2017 ADFIAP Outstanding Development Project Awards under the Technology Development Category.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.