LRA and BPI Family Team Up for More Efficient and Secure Land Transactions

The Land Registration Authority (LRA) has recently ventured into a partnership with BPI Family Savings Bank (BFSB) to work hand in hand for the success of LRA’s Land Titling Computerization Project (LTCP) which aims to ensure accuracy and eliminate fraudulent land transactions by automating the processing of land dealings.

  (Photo shows from left to right):
Hon. Eulalio C. Diaz III, LRA Administrator;
and Mr. Jose Teodoro K. Limcaoco, BFSB President.

“Historically, BPI was the first to come up with the Automated Teller Machine (ATM) in the Philippines,” says Hon. Eulalio Diaz III, LRA Administrator. “BPI is the best choice to pilot this project because we are new to this and they can share with us their experiences and we will learn a lot from them.”

Through this partnership, BFSB and LRA aim to make land verification process more efficient and secure for the transacting public through the creation of a web-enabled system that will allow land owners to make enquiries on the status of a land title anywhere and anytime as well as to speed up the turn-around-time for issuance of land titles. This is also in line with the LRA’s vision to create a “paperless” system and secure tighter control over land titles.

LRA has recognized BFSB’s long-standing efforts and time-proven systems that make transactions easy and convenient for its clients. In line with this, the LRA tapped the bank to lend its expertise and technology to help ensure the smooth operation of the LTCP.

“We think that this project leads to transparency, efficiency and security of titles,” says Mr. Jose Teodoro Limcaoco, BFSB President. “Technology will only make it faster and more secure because you’ll be able to get rid of the problems of burnt titles. We believe that the system is very safe and we’re honoured to be chosen as the first big user.”

Apart from making land transactions secure and efficient, the partnership also underscores the Government’s efforts to demonstrate the importance of public-private cooperation and how the government and private institutions should work together to achieve more for the country.