Small and medium enterprises may soon find it easier to secure bank Aligence (AI) tools, after the Department of Information and Communications Technology (DICT) partnered with the Land Bank of the Philippines (Landbank) to develop digital solutions aimed at making small businesses investment-ready.
The two agencies signed a memorandum of understanding (MOU) on Monday to co-develop AI-enabled solutions that would strengthen the creditworthiness of micro, small, and medium enterprises (MSMEs), boost their productivity, and expand their businesses.
‘Artificial intelligence must create real opportunities for our people, especially our MSMEs that serve as the backbone of the economy. This partnership with Landbank reflects our commitment to harness emerging tech and improve access to financing,’ said Secretary Henry Aguda.
Under the agreement, the DICT and Landbank will identify priority financing use cases, run pilot implementations, and gather operational feedback to refine the department’s MSME AI Tech Stack-a mobile-first suite of AI assistants built to walk entrepreneurs through common pain points.
These include drafting bankable business plans, complying with government requirements, setting profitable prices, understanding contracts, producing marketing content, and finding financing and state support programs. The platform is designed to be accessible in Filipino, English, and other major Philippine languages.
The partnership falls under the Asean Priority Economic Deliverable (PED) on AI-Powered MSME Growth, which the Philippines is pushing as chair of the ASEAN Summit this year. The deliverable seeks to widen access to affordable AI tools for small businesses across the region.
‘Our Asean PED is about making AI useful for ordinary businesses. This MOU is another step which turns that vision into practical tools that will help MSMEs become more productive, financing-ready, and competitive,’said DICT Undersecretary Faye Condez-de Sagon said.
She noted that the collaboration will also explore AI applications that can help MSMEs organize documentary requirements, support credit assessment, and improve business decision-making.