The Land Bank of the Philippines has upgraded its Mobile Banking App (MBA), allowing its customers to open a digital account instantly at any time without visiting a branch.
Landbank sold close to half a billion or P438 million worth of retail treasury investments through its online channels, which is almost three-fold of what it sold in the last offering in 2023.
LandBank clients can enjoy waived transfer fee for their first three online fund transfers in a day via the LandBank Mobile Banking App (MBA), and the bank’s online retail banking channel, the iAccess.
The state-run bank facilitated 94.7 million transactions worth P1.9 trillion from January to June 2023, representing year-on-year jumps of 22% and 41% in volume and value, respectively.
The Land Bank of the Philippines said it will be working with the Philippine Space Agency (PhilSA) and the Department of Science and Technology-Advanced Science and Technology Institute (DOST-ASTI) for the integration of space data and analytics to its financing strategies for the agriculture sector.
The bank recently celebrated its 60th year and said it will continue to support the national government’s development agenda by improving access to reliable, relevant, and convenient financial services.
The overall increase in transaction value was propelled by the bank’s corporate Internet banking platform, the Landbank weAccess, which logged 13.26 million transactions worth P2.95 trillion – a 739% increase in value from the same period last year.
