MANILA, Philippines — The Land Bank of the Philippines and the Government Service Insurance System (GSIS) have entered into a data-sharing agreement (DSA) in a bid to provide better financial services.
Landbank and GSIS, the pension fund for state workers and retirees, recently inked a DSA to give more efficient and seamless banking experience to GSIS members.
The latest move of the two state-run institutions is also in line with the national government’s digitalization thrust.
Under the DSA, GSIS will share its members’ data with the Landbank to enhance the delivery of banking services.
These cover real-time crediting of benefit claims, loans and other proceeds for over 1.5 million GSIS members who maintain accounts with the bank.
Likewise, the collaboration will allow GSIS members to receive their Landbank Visa debit cards within the same day of card enrolment at the GSIS main office.
Through the Landbank cards, members will be able to conveniently receive and withdraw their claims and proceeds from GSIS.
Landbank president and CEO Lynette Ortiz said the DSA targets to streamline processes and enhance operational efficiency for the benefit of GSIS members.
“We fully support the digitalization journey of GSIS by attending to their banking requirements with innovative solutions,” Ortiz said.
GSIS president and general manager Wick Veloso, for his part, emphasized that stakeholders are assured that their private information and financial data are safe and secured.
Also covered by the DSA are other pipeline projects utilizing Landbank’s digital banking products for GSIS-related transactions, including the integration of Landbank into GSIS Touch, the official mobile application of GSIS.
The two government financial institutions are also working to accommodate online payments for rent and other fees under the GSIS Ginhawa for All Lease with Option to Buy program through the Link.BizPortal, the bank’s web-based payment facility.