PDIC Retains ISO Certification for Bank Processes

The Philippine Deposit Insurance Corporation (PDIC) has successfully maintained its ISO 9001:2015 certification for its loans management and bank examination processes following a surveillance audit conducted in the last quarter of 2024.

In its audit report released in January 2025, certifying body SOCOTEC Certification International recommended the retention of PDIC’s quality management system (QMS) certification for these processes, including their support systems.

The audit cited several positive findings, such as the probable extension of the Closed Bank Loan Incentive Program (CLIP 2.0) until 2025.

The program provides discounts and incentives to assist borrowers of closed banks in settling their loans.

Other key improvements noted in the report include PDIC’s adoption of Landbank’s Link.Biz portal as an additional payment mode and the engagement of collection agents to expedite loan collections. SOCOTEC also recognized the corporation’s efficient document safekeeping and its implementation of a Data Loss and Prevention System.

An ISO 9001:2015 certification signifies that an organization’s QMS meets international standards, ensuring efficient service delivery for clients and stakeholders.

The PDIC’s certification extends beyond loans management and bank examination, covering claims settlement operations, assessment of member banks, and real property disposal.

As the state deposit insurer, PDIC safeguards public deposits through insurance coverage on all insured accounts.

The agency also collaborates with financial regulators, including the Bangko Sentral ng Pilipinas (BSP), to conduct joint bank examinations and promote financial stability.

As the statutory receiver of closed banks, PDIC is tasked with liquidating assets, collecting loans, and disposing of real properties. Proceeds from these activities contribute to the pool of liquid assets used to settle claims of creditors and uninsured depositors.