Politics

LANDBANK to launch online lending channels for MSMEs, LGUs

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LAND BANK of the Philippines (LANDBANK) said it is planning to launch online lending platforms for local government units (LGUs) and micro, small and medium enterprises (MSMEs).

“We are heavily investing in enhancing our digital infrastructure to ensure seamless service delivery across our online banking channels and traditional touchpoints,” LANDBANK President and Chief Executive officer Lynette V. Ortiz said in a statement on Monday.

LANDBANK said this will enable more customers to make direct online payments.

The bank will also encourage customers to use the LANDBANK Mobile Banking App, the iAccess online retail banking channel, and the Link.BizPortal web-based payment channel to reduce in-branch transactions.

The bank will likewise intensify marketing efforts to institutional clients to use the LBCS electronic bulk disbursement facility, and the weAccess corporate internet banking platform.

LANDBANK’s branches will also implement an automated queuing management system with a teller interface to reduce processing time for over-the-counter transactions.

Customers will also soon be able to set appointments through an online pre-booking facility before visiting a branch.

Starting April, customers will be able to open a LANDBANK account without visiting a branch through the LANDBANK Mobile Banking App.

“This will provide customers instant access to the bank’s digital services, such as fund transfers, bills payment, e-commerce transactions, and cardless withdrawals,” LANDBANK said. — Aaron Michael C. Sy