International quality seal sustained for frontline services for depositors, banks

State deposit insurer Philippine Deposit Insurance Corporation (PDIC) announced that its quality management systems (QMS) for claims settlement operations (CSO) and assessment of member banks (AMB) and support processes have sustained their ISO certifications under the 9001:2015 standards.

In its audit report, SOCOTEC Certification International said that the Corporation has maintained the implementation of the two QMS in accordance with the requirements of ISO 9001:2015 resulting in zero non- conformities and observations.

“The re-certification of these two frontline services is a testament to the Corporation’s continuing pursuit of its vision to be a leading institution in depositor protection. Through our adherence to the highest standards in delivering services to clients, depositor confidence is high and mirrors trust in our ability to carry out our mandates of protecting depositors and promoting financial stability. Despite the challenges of the pandemic, we at PDIC will continue to remain responsive to the needs of our clients,” PDIC President and CEO Roberto B. Tan said.

The SOCOTEC report highlighted the positive findings on the information campaign of the Corporation for its new online platform of claims transactions, the informative and intuitive interface of its Insurance Claims System (ICS) for better processing of valid deposit insurance claims, and a well-detailed centralized monitoring tool of legal cases to determine update, status and result of turnaround time per case.

SOCOTEC also commended PDIC’s commitment to quality excellence through notable achievements received by the Corporation such as the Bronze Award for 2019-2020 from the Civil Service Commission under its Program to Institutionalize Meritocracy and Excellence in Human Resource Management

(PRIME-HRM) and a Silver Anvil Award for its Annual Report 2018 from the Public Relations Society of the Philippines.

Three other corporate processes — loans management, bank examination, and real property disposal operations — are also currently certified under ISO 9001:2015 standards. The ISO certifications on PDIC’s frontline services assure its stakeholders and clients of an efficient service delivery through continuing enhancement of systems and processes.

Based in France, SOCOTEC Certification International is a global provider of management systems assessment and ISO certification services to organizations in 26 countries from Latin America, Europe, Asia-Pacific, Africa, India and the Middle East.

The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing deposit insurance.

Effective June 1, 2009, the maximum deposit insurance coverage is PhP500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together.

A joint account shall be insured separately from any individually-owned deposit account. PDIC news/press releases and other information are available at the website, www.pdic.gov.ph.