14The Land Bank of the Philippines (LANDBANK) posted a 30% growth in value for its
major digital banking platforms in the first quarter of 2023 compared to the same
period last year.
The increase to 735.95 billion from the previous year’s P567.6 billion was facilitated
by a total of 41.2 million transactions representing a 5% rise year-on-year via the
LANDBANK Mobile Banking App (MBA), weAccess, Electronic Modified Disbursement
System (eMDS), Link.BizPortal, iAccess, and the LANDBANK Bulk Crediting System
(LBCS).
"The growing adoption and utilization of our digital channels is a testament to
LANDBANK’s steadfast commitment to provide safe and convenient banking services.
We remain focused on investing in our digital infrastructure to meet the evolving and
diverse needs of our customers," said LANDBANK President and CEO Cecilia Cayosa
Borromeo.
The LANDBANK Link.BizPortal, the Bank’s web-based payment channel, facilitated
2.18 million transactions which translate to a 58% climb amounting to P3.0 billion in
value.
Both the LANDBANK weAccess and iAccess recorded value increases of 39% and
2%, amounting to P199.38 billion and P4.6 billion, respectively.
The LANDBANK MBA’s facilitated value also went up by 31% to P61.79 billion with
an 8% jump in total transactions of 32.2 million.
The LBCS saw the biggest increase in value at 1,402% amounting to P19.7 billion
from 1.8 million recorded transactions.
The Bank's eMDS platform likewise experienced significant growth in value by 22%
to P447.5 billion from a total of 597,496 transactions, which is equivalent to about
85% of all disbursements of the National Government in the first three months of
the year.
Meanwhile, a total of 4 million accounts have been opened via the LANDBANK Digital
Onboarding System (DOBS) since 2018, which include accounts opened for clients of
the Overseas Filipino Bank (OFBank), the official digital bank of the Philippine
government and a subsidiary of LANDBANK.
LANDBANK's continuing digital innovations has enabled it to provide convenient and
accessible banking services to more Filipinos, in line with its thrust of advancing
financial inclusion in the country.
