THE Philippine Deposit Insurance Corp. (PDIC) and Land Bank of the Philippines (Landbank) have signed a Memorandum of Agreement to implement the Landbank Bulk Credit System (LBCS), a new digital facility that speeds up payments to creditors of closed banks under PDIC receivership.
Signed on July 21, 2025, by PDIC president Roberto B. Tan and Landbank president Lynette V. Ortiz, the LBCS replaces manual processes with a web-based platform capable of handling bulk electronic fund transfers through PesoNet and InstaPay, enabling same-day or real-time crediting.
The system eliminates paper checks and cash handling, ensuring accuracy, transparency, and convenience. Tan said the initiative reflects the strong partnership and shared commitment of PDIC and Landbank to financial inclusion.
The LBCS is Landbank’s fourth settlement facility for PDIC, building on innovations rolled out since 2012. / KOC