Banking on technology: LANDBANK pushes digital banking to reach the unbanked, enhance services

Friday, June 21, 2019

LANDBANK is further strengthening its banking platforms and introducing innovative channels in line with its thrust to promote greater financial inclusion and banking convenience for its clients.

“Our efforts are geared towards incorporating as many Filipinos as possible into the financial mainstream through traditional and digital platforms. We continue to invest on systems and technologies that will allow us to expand our reach, streamline processes, and improve the delivery of our products and services,” said LANDBANK President and CEO Cecilia C. Borromeo.

Digital Onboarding

To streamline the account opening process and reduce lobby traffic in its branches, the Bank implemented the Digital On-Boarding System (DOBS).

Less than seven months into its implementation, DOBS is now utilized in all 400 LANDBANK branches across the country and significantly reduced account opening time from 30 minutes to 15 minutes. During this period, more than 98,000 accounts have so far been opened through the system.

DOBS 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 being accessible initially through the Digital Banking Corner in LANDBANK branches, DOBS will soon be linked to the Bank’s website (www.landbank.com). This will allow individual (including Overseas Filipinos) and institutional clients to fill out forms and upload IDs and documents in the comfort of their homes, offices, or even via their mobile phones, prior to proceeding to the branch to complete the account opening process.

“Moving forward, we are targeting to also roll this out in our lending units to streamline and simplify the loan application process for our clients,” added Borromeo.  

Network expansion

LANDBANK 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 Centers, 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, which will benefit more remote areas by providing continuous delivery of banking services, even during calamities or disasters.

These will complement the Bank’s existing 10 Mobile ATMs that provide convenient banking services to beneficiaries of the government’s Conditional and Unconditional Cash Transfer program, payroll pay-out of LGUs, pension/salary pay-out and loan proceeds of other government agencies, and other special events or calamities.

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.

LANDBANK also continues to beef up its internet and mobile banking platforms, such as the LANDBANK iAccess - the Bank’s retail internet banking channel; the Mobile Banking App, which allows clients to perform banking transactions 24/7; and the LANDBANK Link.Biz Portal, where individuals can conveniently pay their bills, taxes, and other dues to government agencies and private merchants online.

“As we work toward our inclusive growth objectives, we are banking on technology to reach more unbanked villages and towns, and to provide greater convenience and accessibility to our clients,” said Borromeo.

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.