The Philippine Deposit Insurance Corporation (PDIC) successfully maintained its ISO 9001:2015 certifications for its quality management systems (QMS) for loans management and bank examination following a successful surveillance audit in the last quarter of 2024.
In its audit report released in January 2025, certifying body SOCOTEC Certification International recommended the maintenance of PDIC’s ISO 9001:2015 certifications for the QMS for its loans management and bank examination processes, including support processes.
Among the positive findings cited by SOCOTEC in its audit report were the probable extension until 2025 of the Corporation’s Closed Bank Loan Incentive Program (CLIP 2.0) which provides discounts and incentives to help borrowers of closed banks settle their loans, the adoption of Landbank’s Link.Biz portal as an additional mode of payment, and the engagement of collection agents to expedite loan collections from closed bank borrowers. The report also cited the PDIC’s efficient maintenance and safekeeping of documents as well as implementation of its Data Loss and Prevention System.
An ISO certification 9001:2015 is a seal of approval from a third-party certifying body that gives credibility to an organization’s QMS. Certifications for core corporate processes and their support processes assure clients and other stakeholders of efficient service delivery.
Aside from loans management and bank examination, the PDIC’s QMS in three other core services, together with their respective support processes, remain certified under ISO 9001:2015 standards. These include claims settlement operations, assessment of member banks, and real property disposal.
PDIC, as the state deposit insurer, promotes and safeguards the interest of the depositing public by way of providing deposit insurance coverage on all insured deposits. Additionally, it works closely with financial regulators to promote financial stability including conduct of joint bank examinations with the Bangko Sentral ng Pilipinas. As the statutory receiver, the Corporation is also mandated to liquidate the assets of closed banks through loans collections and asset disposal. Proceeds from loans collection and asset disposal are added to the pool of liquid assets of closed banks which will be used to help settle claims of their creditors and uninsured depositors.
