LANDBANK services underserved provinces thru agent banking partners

The Land Bank of the Philippines (LANDBANK) now has a total of 896 agent banking
partners (ABPs) nationwide as of 31 January 2022, tapped to deliver banking
services to unbanked and underserved communities nationwide.

These accredited ABPs are operating in behalf of LANDBANK in Metro Manila and 81
provinces, which include remote areas in Apayao, Catanduanes, Cagayan, Ifugao,
Siquijor, Tawi-Tawi, and Dinagat Islands, among others.

The ABPs can offer services which include cash out, cash in, fund transfer, bills
payment, and opening and issuance of LANDBANK Agent Banking Cards.
In January 2022 alone, a total of 469,056 transactions amounting to P2.24 billion
have been facilitated by LANDBANK ABPs.

“The expansion of our Agent Banking Program is reflective of LANDBANK’s steadfast
commitment to advance financial inclusion in the country. Our partnerships translate
to improved access to financial services and lower transaction costs for the benefit
of our customers in unbanked and underserved communities,” LANDBANK President
and CEO Cecilia C. Borromeo said.

Under the Agent Banking Program, LANDBANK initiates partnerships with client
cooperatives, associations, rural banks, local government units (LGUs), and micro,
small and medium enterprises (MSMEs), and private entities to help provide basic
banking services to areas with limited or no LANDBANK presence.

The LANDBANK Agent Banking Program is in accordance with the Bangko Sentral ng
Pilipinas (BSP) Circular No. 940 series of 2017, which allows the contracting of cash
agents to perform selected banking services on the Bank’s behalf, to exponentially
expand reach and service more clients.

LANDBANK also continues to co-locate with the Philippine Statistics Authority (PSA)
in registration centers nationwide to provide unbanked Philippine Identification
System (PhilSys) registrants with transaction accounts, free-of-charge. A total of 7.5
million registrants have been onboarded as of 16 February 2022.

Facebook Comments