The Land Bank of the Philippines (LANDBANK), a government financial institution, is further strengthening its banking platforms and introducing innovative channels.
These initiatives are in line with its thrust to promote greater financial inclusion and banking convenience for its clients.
As reported, the Bank’s efforts are geared towards incorporating as many Filipinos as possible into the financial mainstream through traditional and digital platforms.
The Bank’s President and CEO shared that they continue to invest on systems and technologies that will allow them to expand reach, streamline processes, and improve the delivery of products and services.
Digital On-boarding
To streamline the account opening process and reduce lobby traffic in its branches, the Bank implemented the Digital On-Boarding System (DOBS).
With less than seven months into its implementation, DOBS is now being utilised in all 400 branches across the country.
During this period, more than 98,000 accounts have so far been opened through the system, with a significant reduction in opening time from 30 minutes to 15 minutes.
The system offers individual and institutional clients a convenient way of accomplishing account enrolment forms and reduces the amount of time needed to complete the account opening process.
From its initial accessibility via the Digital Banking Corner in the branches, DOBS will soon be linked to the Bank’s website.
Doing so will allow individual and institutional clients, including those overseas, to fill out forms and upload IDs and documents in the comfort of their homes, offices, or even via their mobile phones.
After which, they can proceed to the branch to complete the account opening process.
The Bank is targeting to roll this system out in their lending units to streamline and simplify the loan application process for clients.
Network expansion
The Bank also continues to expand traditional touch points nationwide, with four new branches opened in the first half of the year and 10 more in the pipeline.
This will bring its network to 410 by the end of the year.
These are complemented by 44 Lending Centres, 2,066 ATMs and 120 Cash Deposit Machines deployed in strategic areas across the country.
Also in the pipeline this year is the deployment of a mobile branch and 10 additional mobile ATMs.
This will benefit more remote areas by providing continuous delivery of banking services, even during calamities or disasters.
The Bank is further looking to install 200 Point-of-Sale (POS) Cash-Out Units to bring financial services closer to Filipinos in remote areas through its network of cash-out partner institutions.
Moreover, the Bank continues to beef up its internet and mobile banking platforms. These are:
- The LANDBANK iAccess, which is the Bank’s retail internet banking channel
- The Mobile Banking App, which allows clients to perform banking transactions 24/7
- The LANDBANK Link.Biz Portal, where individuals can conveniently pay their bills, taxes, and other dues to government agencies and private merchants online.
As LANDBANK works toward its inclusive growth objectives, it is banking on technology to reach more unbanked villages and towns as well as to provide greater convenience and accessibility to clients.
LANDBANK is present in all 81 provinces of the country and remains among the biggest credit providers to small farmers, fishers, and MSMEs among government financial institutions.
