LAND BANK of the Philippines (LANDBANK) has signed a data-sharing agreement with the Government Service Insurance System (GSIS) to help boost the delivery of banking services to the state pension fund’s members.

These services include the real-time crediting of benefit claims, loans, and other proceeds for over 1.5 million GSIS members with LANDBANK accounts, the lender said in a statement.

LANDBANK said the agreement was signed on July 17.

“This agreement further builds upon the partnership of LANDBANK and GSIS 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,” LANDBANK President and Chief Executive Officer Lynette V. Ortiz said.

“With this agreement, our stakeholders are assured that their private, confidential information are safe and secure with us. They can be sure that we will take care of their data privacy and that their sensitive information is protected, along with their financial data,” GSIS President Jose Arnulfo “Wick” A. Veloso said in mixed English and Filipino.

The agreement also covers projects such as the integration of LANDBANK into GSIS’ mobile application, GSIS Touch.

LANDBANK and GSIS will also allow online payments for rent and other fees under the GSIS Ginhawa For All Lease with Option to Buy Program through the LANDBANK’s web-based payment facility, Link.BizPortal.

The state-run lender saw its net income decline by 18% year on year to P10.8 billion in the first quarter. It was the second-largest lender in terms of assets with P3.12 trillion as of end-March, according to central bank data. — AMCS

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