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SSS Accredits FICOBank as a PRN-Based Collection Agent

FICOBank has been in partnership with the Social Security System (SSS) for a number of years now. The Bank provides the members of the latter a payment platform via its SSS Collection service. Through this service facility, the Bank acts as a collecting agent in the acceptance of payments for SSS premiums and loan amortizations.

In keeping pace with the advancement of technology, SSS adopted a real-time processing of contribution payments through the Enhanced Contribution Collection System (ECCS), using electronic-generated Payment Reference Numbers (PRNs), in partnership with the banks that can comply with its requirements. The Bank, in its desire to maintain its partnership with SSS—as a service provider—and to dovetail the latter’s ECCS, has assigned its Information & Communications Technology Department (ICTD) to take the lead in developing a system for this purpose. The said system is designed to capture the payment details required in the collection file, which forms part of the improvement of the existing platform, and to address the pre-requisite for the web service application to SSS.

In addition, the Bank has complied with all the system requirements, namely: connectivity, compliance to the e-collection file layout and capability to access SSS web services, submission of collection file and remittance report, file transfer/processing notification, and correction of collection files with invalid transaction. More importantly, the Bank had successfully passed the series of user acceptance test (UAT) held at the main office of SSS in Manila, for the system developed by the Bank, the sample collection file and the sample remittance report. As such, the Bank was subsequently registered by the Information Technology Management Group of SSS, as one of the first eight participating banks (i.e., one coop bank [FICOBank], one rural bank and six commercial banks), that is authorized to accept PRN-based contribution payments for employers, self-employed/voluntary members, overseas Filipino workers and non-working spouse.

This was followed by the signing of a Memorandum of Agreement (MOA) by both parties. This affirmed that the Bank is now an accredited SSS payment center, with facilities such as inquiry of PRN, generation of PRN, payment and end-of-day report. The PRN-based SSS Collection service was pilot-tested at the Bank’s Head office in March, this year. It is expected that up to July, this service will be available in all operating units of the Bank in Regions I-II-III and CAR.

With it, the members of SSS can conveniently pay their contributions, in real-time, by visiting any branch or center of FICOBank that is near them.

 

 

 

 

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