“Information regarding the contribution status is now directly provided by Social Security to Banco de Fomento, allowing companies to bypass this bureaucratic step and proceed with the 125,000 pre-approved financing applications, amounting to 24 billion euros,” stated the Instituto de Informática da Segurança Social in a note issued today.
The protocol establishing this partnership is set to be signed on Thursday by Luís Farrajota, president of the Instituto de Informática da Segurança Social, and Gonçalo Regalado, CEO of Banco Português de Fomento, “taking immediate effect,” the institute adds.
Following this change, Banco de Fomento will be able to “analyze 125,000 applications without requiring companies to submit any documentation related to Social Security,” including “the certificate of no debt, since the process is conducted via a data interoperability platform between systems,” the institute explains.
The president of the Instituto de Informática da Segurança Social emphasized, as noted in a statement, that this protocol “is another step towards automating data sharing among state institutions, enabling companies to save time and contextual costs.”
The objective is to streamline processes “so that bureaucracy does not become an obstacle to investment and innovation,” it is noted.
This partnership is part of the digital transformation process being implemented by Social Security. Last week, the institute announced an agreement with the Polícia Judiciária regarding cybersecurity and digital risks.
