Landbank weAccess transactions increase

The corporate internet banking platform of the Land Bank of the Philippines (Landbank) saw its transactions improve by 25 percent to P244 billion as of endMay.

Landbank said it has recorded a total of 10 million transactions worth P243.64 billion through its weAccess platform as of May.

WeAccess is Land Bank’s internetbased banking facility for institutional clients that offers fund management, bills payment, remittance services, and automated teller machine (ATM) payroll services, among others.

Landbank said it continues to leverage on technological solutions to serve the requirements of local governments.

The provinces of Bukidnon and Sarangani are the latest LGU to tap Landbank’s digital banking facility for payroll transactions, remittances, and payment of government contributions for their employees.

Bukidnon and Sarangani recently enrolled their institutional accounts to weAccess.

Bukidnon provincial treasurer Marilou Bueno noted that weAccess improved the LGU’s operational efficiency as it eliminated travel time from office to bank and delays in releasing personnel benefits.

Prior to its weAccess enrollment, the provincial government had to manually deliver payroll documents to the bank to process the salary of over 3,000 employees.

Sarangani, on the other hand, tapped weAccess to remit employees’ premium payments and monthly contributions to the Pag-IBIG Fund and to the Government Service Insurance System.

This also scrapped the process of remitting physical checks to government offices and improved the LGU’s manpower efficiency.