The Land Financial institution of the Philippines (Landbank) introduced that the mixed worth facilitated by its six main digital channels reached P2.45 trillion in 2021—a 46 p.c hike from the earlier 12 months—whereas quantity of transactions grew by 19 p.c to 136.3 million.
Cecilia Borromeo, Landbank President and CEO, credited this development to the increasing adoption of the financial institution’s digital companies and marks one other milestone in Landbank’s ongoing digital transformation.
“Landbank is leveraging on the newest technological options to ship a digital banking expertise designed for the brand new regular. We’ll proceed to financial institution on digital infrastructures as we push for higher digital adoption and advance monetary inclusion within the nation,” mentioned Borromeo.
The Landbank Cell Banking App (MBA) recorded 103.8 million transactions price P172.39 billion final 12 months, representing upsurges of 44 p.c and 103 p.c, respectively, from the earlier 12 months.
The financial institution’s e-payment facility, Hyperlink.BizPortal, facilitated round 3.88 million transactions equal to an 83 p.c improve, akin to a complete worth of P10.45 billion or a 31 p.c development charge.
The Landbank weAccess—the financial institution’s institutional web banking platform—recorded 20.9 million transactions price almost P489 million for will increase of 29 p.c and 24 p.c, respectively.
The financial institution additionally logged a 30 p.c soar in worth through its iAccess web retail banking channel, reaching P15.40 billion in comparison with P11.87 billion in 2020.
The Landbank Bulk Credit score System (LBCS) additionally posted unprecedented annual growths of 105 p.c and 1181 p.c for quantity and worth, respectively.
Lastly, the Landbank Digital Modified Disbursement System (eMDS) for nationwide authorities company companions posted will increase of 20.9 million or 29 p.c extra transactions, and a complete P488.98 billion or 24 p.c rise in worth.
With the continual improve in using e-banking channels, the state-run financial institution assures its clients that it maintains the best stage of safety in all its techniques whereas reminding clients to stay vigilant in opposition to on-line banking fraud and scams.