MANILA, Philippines - The Government Service Insurance System (GSIS) has disbursed a total of P53.33 billion in loans last year, a marked improvement from the P40.97 billion recorded in 2008.
The loans were disbursed through over-the-counter transactions and through the agency’s Wireless Automated Processing System or G-W@PS kiosk.
Of the amount, GSIS has disbursed a total of P49.84 billion worth of loans through the agency’s G-W@PS kiosk.
GSIS president and General Manager Winston Garcia said the loans were disbursed despite the slowdown in the agency’s operations brought about by a defective database system provided by IBM Corp.
Data from the Information Technology Services Group of the GSIS showed that a little over a million loan applications were filed online last year through the G-W@PS kiosks deployed in all GSIS servicing offices and selected government agencies.
Of the total loan applications filed, the GSIS approved 878,469 for a total consideration of P49.84 billion.
The GSIS said it was able to process a huge bulk of loan applications filed through the G-W@PS kiosks because it has moved to a new and better system, which is Oracle.
Introduced in 2006, the G-W@PS system allows GSIS to service its customers anytime and anywhere.
The G-W@PS kiosk combines modern technology to come up with a unique and secure system that can process transactions off-site in a completely paperless environment.
With G-W@PS, not only can GSIS members and pensioners file for a loan, they can also view their GSIS records as well as activate their eCard Plus.
For members, the kiosk can process loan applications like the P10,000 cash advance loan, Consolidated Salary Loan and Policy Loan. Pensioners can likewise file their pension loan using the G-W@PS kiosk.
On the other hand, pensioners can use the G-W@PS to renew their active status on their birth month without ever reporting to the GSIS office. This will ensure the continuation of their monthly pension.
The kiosk — which is like an ATM machine with a touch screen monitor — combines different technologies such as radio frequency identification, biometrics, general packet radio service, short message service, and virtual private network.
GSIS members and pensioners need to have an eCard Plus to be able to use the G-W@PS.