Connect with us

Hi, what are you looking for?

Economy

LANDBANK lets clients open digital accounts via mobile app

STATE-RUN Land Bank of the Philippines (LANDBANK) launched on Wednesday its digital on-boarding system (DOBS) mobile application to allow its clients to open digital savings accounts without needing to visit its physical branches.

LANDBANK said applicants are required to fill out an application form and upload a photo of a valid identification card through the mobile app to open a digital ATM savings account, it said in a statement on Wednesday.

The digital account can be used for cardless withdrawals via the mobile app, fund transfers and bills payments.

It said the time to open an account was effectively reduced to 10-15 minutes since clients no longer need to go to a physical branch to complete the process.

To upgrade the bank account to a regular LANDBANK Visa debit card, however, clients still have to visit a branch to request for a physical card.

“The DOBS Mobile underscores LANDBANK’s continued commitment to provide accessible, convenient, and safe digital solutions. Our digital banking initiatives remain centered on balancing service delivery while ensuring the health and safety of our clients which is of utmost priority,” LANDBANK Branch Banking Sector Head, Executive Vice-President Julio D. Climaco, Jr. said.

The DOBS was introduced by LANDBANK in December 2018 as the first online bank portal in the country. As of April 30, there were 1.53 million accounts opened through the bank’s website.

LANDBANK’s net income went down by 7.57% to P17.1 billion in 2020 from P18.5 billion in the previous year.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Investing

Post Office collection and cash delivery workers are to stage a one-day strike later this month in a dispute over pay. Members of the...

Investing

UK consumers cut back on credit card borrowing in May amid fears over rising interest rates and a slowing economy driven by a cost...

Investing

The bank said that it was introducing a £1,200-a-year pay increase from August 1, which would start to show in next month’s pay packets....

Investing

Postmasters caught up in the Horizon IT scandal say that they are still being “left in the dark” about a compensation package after the...

Economy

Expenditures for environmental protection declined by 4.6% year on year in 2021, data from the Philippine Statistics Authority (PSA) showed. The statistics agency’s Compendium...

Investing

BT staff have voted for their first national strike in 35 years, which is expected to affect customers across the country having broadband services...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.