Pag-IBIG Fund recently signed a contract with Admerex Solutions, Inc. (ASI), tapping the tele-collection services of the company for Pag-IBIG's Housing and Provident accounts. The ceremonial signing was led by Pag-IBIG President and CEO Atty. Darlene Marie B. Berberabe and ASI President and Managing Director Robert H. Dizon.
According to Berberabe, the objective of the partnership is to have an effective mechanism that will help remind Pag-IBIG members and their employers to settle their Pag-IBIG obligations on time, ensuring the member's uninterrupted enjoyment of Pag-IBIG benefits. Tele-collection firms' task is to prevent 31 to 90 days past due accounts from being tagged as non-performing loans.
“Pag-IBIG's strategy to tap the services of experts in collections has proven to be effective. From 72% – the lowest in the last ten years, the Fund was able to raise its performing loans ratio to 87%, net of allowance for impairment loss,” Berberabe said referring to Pag-IBIG's partnership with collection agencies that are handling the Fund's housing loan accounts considered in default.
"With Admerex expertise in tele-collection, we expect to get better collection figures and increase collection efficiency in the next few years, and at the same time, we will generate savings in our administrative and operational cost," Berberabe added.
Records show that the initial batch of provident accounts endorsed to ASI yielded a collection of 88% of the total amount to be collected.
Housing and Urban Coordinating Council (HUDCC) Chairman Atty. Chito M. Cruz is pleased with the results that he instructed Pag-IBIG to cascade its collection strategy to the other government shelter agencies to help them improve their collections.
Meanwhile, the ASI President and Managing Director thanked Pag-IBIG for the partnership, and commended the agency’s bids and awards committee.
“It is a great honor to be the service provider of Pag-IBIG Fund. We hope that the services we will be providing can help Pag-IBIG achieve its goals. From the bottom of my heart, I would like to commend your bids and awards committee. This is the first time we participated in a bidding and it was done professionally… I’m amazed about the level of professionalism of your group. It brings back the confidence of a citizen towards a government agency,” Dizon said.
Established in 2003, ASI is one of the largest 100% Filipino-owned Business Process Outsourcing (BPO) company and is the first tele-collection partner of Pag-IBIG. To date, Pag-IBIG Fund is ASI’s second largest partner