MANILA -- The Land Bank of the Philippines (LANDBANK) and the Department of Information and Communications Technology (DICT) have partnered to synergize initiatives in ensuring the interoperability of the applications and systems of both institutions.

DICT Secretary Ivan John E. Uy and LANDBANK President and CEO Cecilia C. Borromeo formalized the collaboration with a Memorandum of Understanding (MOU) signed during the Inter-Government Agency MOU Ceremonial Signing for E-Governance event on 2 December 2022 at the Marriot Hotel in Pasay City, Manila.

Under the MOU, LANDBANK and DICT will harmonize, coordinate, and integrate their Information and Communications Technology (ICT) efforts, which include resource sharing, database building and agency networking linkages.

“Our Memorandum of Understanding with the DICT represents another significant step in LANDBANK’s digital transformation journey, leveraging on innovative partnerships and investing in digital solutions to deliver secure financial services and products to our customers,” said President Borromeo.

From January to October 2022, LANDBANK’s major digital banking platforms have facilitated a total of 123.3 million transactions amounting to P4.8 trillion, translating to 14% and 156% year-on-year growths in volume and value, respectively.  

The LANDBANK Mobile Banking App (MBA) for retail customers recorded 97 million transactions amounting to P171.3 billion for 18% and 28% growth rates, respectively.

The Bank’s corporate internet banking platform, the LANDBANK weAccess, facilitated 14.2 million transactions worth P3 trillion, representing an unprecedented 664% jump in value from the same period last year.

The LANDBANK Electronic Modified Disbursement System (eMDS) for national government partners logged 1.9 million transactions with total value of P1.6 trillion, translating to increases of 17% and 20% in transactions and value, respectively.

Meanwhile, the LANDBANK iAccess continued to post a 16% growth in transaction value amounting to P14.3 billion from 4.3 million transactions. 

The Bank’s web-based payment facility, the LANDBANK Link.BizPortal, likewise continued to record a 50% rise in transaction volume with 4.9 million transactions worth P9.8 billion.

Lastly, the LANDBANK Bulk Crediting System (LBCS) facilitated transactions worth P18.9 billion for a significant 608% leap compared to the same period last year. (LANDBANK)