Landbank eyes digital expansion
State-run Land Bank of the Philippines is targeting to reduce over-the-counter transactions as it moves to expand its digital services for customers.
Landbank president and CEO Lynette Ortiz said the bank aims to reduce over-the-counter transactions in its branches by encouraging customers to maximize digital banking channels.
These include the Landbank mobile banking application, the iAccess online retail banking channel and the Link.BizPortal web-based payment channel for retail clients.
Select Landbank branches nationwide currently implement an automated queuing management system with a teller interface to further cut processing time for over-the-counter transactions.
The next phase of the project will allow customers to set appointments via an online pre-booking facility before visiting the branch.
Since 2018, Landbank has been implementing its digital onboarding system, which simplified the account enrolment process and reduced the account opening time of customers from 45 minutes to 15 minutes.
Starting April, customers may also open an account without visiting a branch through the new straightthrough account-opening feature of Landbank’s mobile banking app.
This provides customers instant access to the bank’s digital services such as fund transfers, bills payment, e-commerce transactions and cardless withdrawals.
This is also part of the bank’s efforts to elevate customer convenience and accessibility to financial services.
“We are heavily investing in enhancing our digital infrastructure to ensure seamless service delivery across our online banking channels and traditional touchpoints,” Ortiz said.
Landbank also aims to onboard more government agencies, local government units, private merchants and other qualified institutions as billers in its digital channels, enabling more customers to make direct online payments.
It is also intensifying its marketing efforts to encourage wider digitalization adoption among institutional clients.
Digital solutions include the electronic modified disbursement system for national government partners, Landbank bulk crediting system and the weAccess corporate internet banking platform.
Landbank assured its clients that it would continue to invest in both technological solutions and human resources to secure its systems and infrastructure.
“Ensuring data security and privacy is a top priority for us. We are implementing multi-layered security controls in our systems to provide safe and frictionless solutions for our customers,” Ortiz said.