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.
