Landbank and the Social Security System have strengthened their long-standing partnership with the introduction of the SSS Loan Lite Program, a micro-loan facility powered by the bank’s fully digital platform.
Under the agreement, Landbank will provide the digital infrastructure designed for speed, convenience, and security, which will enable SSS members to apply for loans anytime and anywhere through the bank’s mobile banking app (MBA).
The platform features automated eligibility checks, streamlined loan processing, and fast crediting of loan proceeds to their Landbank account, even beyond banking hours.
This provides easy access to short-term financial assistance and reinforces both institutions’ commitment to digital innovation and financial inclusion, the bank said in a press release Jan. 14.
All loan documents, including terms and conditions and disclosure statements, will be accessible digitally. Members can repay loans through automatic debit arrangements or other convenient payment channels, supported by robust audit, security, and data privacy controls.
For members without a Landbank account, the MBA offers a seamless account opening process, allowing users to complete account creation and loan application in one digital experience. Landbank will also provide regular electronic reports to SSS for monitoring and audit purposes.
This program is targeted for rollout in the first half of this year, reinforcing the shared commitment of Landbank and SSS to advance public service through meaningful digital innovations.
“This new product clearly is something that is going to be a game changer, even for us,” the bank’s president and CEO, Lynette Ortiz, said. “What we are really hoping to bring to the table, will be all our digital solutions, to make loans and credit facilities available in a more accessible, efficient way.” ||
