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.