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July 14, 2024

Landbank accounts opened online breach 2M mark

State-run Land Bank of the Philippines led by bankero Cecilia Borromeo has recorded a total of 2.12 million accounts opened online as of end 2021, driven by the continued rise in demand for safer digital banking services.

Borromeo said its award-winning Digital Onboarding System (DOBS) launched in November 2018 has helped simplify the account enrolment process and reduced the account opening time of customers to just 10 to 15 minutes from 45 minutes.

“This new DOBS milestone underscores Landbank’s steadfast commitment to deliver accessible and innovative digital solutions as we respond to the changing times. This is also a testament to the Bank’s dedication to balance service delivery while ensuring the health and safety of our customers,” Borromeo said.

The government owned bank has also launched last year the DOBS Mobile as a feature of its Mobile Banking App (MBA) allowing customers to open a savings account using their mobile phone without the need to go to a Landbank branch.

Accounts opened through DOBS are automatically enrolled in Landbank’s array of e-banking channels, such as the Landbank iAccess and Mobile Banking App that facilitate simple digital banking transactions.