In 2021 amid a crippling coronavirus pandemic, the Philippine Deposit Insurance Corporation (PDIC) revised its vision to enhance its effectiveness. The revised vision states: “By 2023, the PDIC will be a leading institution in governance, recognized for its operational excellence in depositor protection and responsiveness to the changing times.” Established on June 22, 1963 under Republic Act 3591, the PDIC has taken giant strides toward carving a niche as an exemplary government corporation that performs an essential function: providing insurance coverage to bank deposits while extending financial assistance to distressed banks. Starting from only ₱10,000 per depositor per bank, the PDIC now covers up to ₱500,000 per depositor per bank. Seizing the opportunity provided by the acceleration of digital transformation during the pandemic, the PDIC has cut down substantially to an average of from 17 to 22 days — or roughly three weeks — the clearing time for settling claims. This is significantly better than its objective of settling claims within 27 days for 10 banks with no more than 3,000 accounts each. For bigger banks with 3,000 to 10,000 accounts each, the PDIC settled the claims within 37 to 40 days or better than its target of 41 days. The total amount of claims settled in closed banks grew from ₱219.68 million in 2020 to ₱471.15 million in 2021 — or by more than double. The PDIC has also made its mark in improving the ease of doing business. It initiated the streamlining of interagency processing of proposed mergers, consolidations, and acquisitions of banks, cutting almost half the number of documentary requirements from 58 to 30, and shortening the processing time from 160 to 55 days. These recent achievements bolster the reputation of the PDIC as a well-managed institution. In 2013, the International Association of Deposit Insurers (IADI) recognized the PDIC as the Deposit Insurance Corporation of the Year. The general public has known PDIC quite well by dint of the fact that all radio-TV and print advertisements of banks always end with the tagline, “Member, PDIC.” This message has been expanded into, “Deposits are insured by PDIC up to ₱500,000 per depositor” and the PDIC;s corporate tagline is “Bank deposit mo, protektado.” The PDIC’s Deposit Insurance Fund (DIF) continues to be built up, increasing by 13.8 percent from ₱214.44 billion in 2020 to ₱243.87 billion in 2021. Meanwhile, its corporate assets stood at ₱305.86 billion, or 12.4 percent higher than the ₱272 billion in 2020. Continuous service improvement is being pursued by the PDIC as it has maintained its ISO certification for assessment of member banks, claims settlement, loans management and real property disposal operations. The Civil Service Commission has also recognized the PDIC’s human resource management systems for its maturity, while the Securities and Exchange Commission (SEC) commended it for being a “champion of good governance.” Indeed, the PDIC has become a truly reliable financial institution that protects the interest of bank depositors and enhances public confidence in the banking system.