SEC, LANDBANK enhance processing of applications, payments

PR Photo - SEC, LANDBANK enhance processing of applications, payments
PR Photo - SEC, LANDBANK enhance processing of applications, payments
(L-R) LANDBANK Senior Vice President Ramon R. Monteloyola, Securities and Exchange Commission (SEC) Commissioner McJill Bryant T. Fernandez and Director Dondie Q. Esguerra, lead the ceremonial signing of the amended Memorandum of Agreement (MOA) for the LANDBANK Online Collection (OnColl) facility on 28 November 2022 at the SEC Headquarters in Makati City.

The Land Bank of the Philippines (LANDBANK) and the Securities and Exchange Commission (SEC) have strengthened their partnership for the efficient processing of registration applications and payments. 

Under the amended Memorandum of Agreement (MOA), LANDBANK and SEC have updated their processes for the acceptance of payments of all SEC fees and transactions covered by a Payment Assessment Form (PAF) through the LANDBANK Online Collection (OnColl) facility.

The LANDBANK OnColl facility facilitates around 2,000 transactions per month for the SEC, which covers applications for company registrations, and the verification and reservation of corporate names, among others.

New SEC Accounts shall also be enrolled in the LANDBANK weAccess, for the convenient online viewing and downloading of Online Collection Reports by the SEC.

SEC Commissioner McJill Bryant T. Fernandez, Financial Management Department Director Dondie Q. Esguerra, and LANDBANK South NCR Branches Group Head, Senior Vice President Ramon R. Monteloyola, signed the amended MOA on 28 November 2022 at the SEC Headquarters in Makati City. 

“LANDBANK fully supports the digitalization journey of the SEC to respond to the evolving needs of its customers. Our renewed partnership furthers the ease of doing business with the Commission through the delivery of convenient services,” said LANDBANK President and CEO Cecilia C. Borromeo. 

For his part, SEC Commissioner Fernandez said that the LANDBANK OnColl will help in the Commission’s efforts to transition from over-the-counter transactions to online payments. 

“[This] will provide real-time and accurate reporting and monitoring made through online collections that will further strengthen our mandate towards transparency, accountability and good governance,” said Commissioner Fernandez. 

Payments to SEC applications can be made in 609 LANDBANK branches nationwide as of 31 October 2022. 

LANDBANK and SEC are likewise working towards upgrading current processes, from using the OnColl facility into the Link.BizPortal—LANDBANK’s web-based payment channel—to better serve the growing demand for safe and contactless online payment options.

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