Land Bank of the Philippines said Monday it recorded a significant increase in digital banking transactions in 2024, led by the growing shift of customers to online banking services and the bank’s sustained investments in enhancing its digital platforms. The bank said it facilitated 162.28 million digital transactions, marking a 67-percent expansion from 97.08 million in 2023, with a total value of P3.38 trillion, up 38 percent from P2.45 trillion.
“Digital banking is not just about convenience—it’s about inclusion. Through our digital banking channels, we are empowering every Filipino to take control of their finances. Our goal is to make safe, reliable, and convenient banking accessible to all, especially our farmers and fishers, business owners, OFWs and government agencies,” said LandBank president and chief executive Lynette Ortiz.
The LandBank Mobile Banking App (MBA) led the growth in the total transaction volume, with a record 106.82 million transactions in 2024—or nearly double the 55.2 million transactions recorded in the prior year.
MBA allows users to perform a wide range of banking services including fund transfers, bill payments and investing in government securities. Among the app’s major enhancements last year was the straight-through account opening feature, which allows customers to open a digital account online via smartphones without visiting a branch.
The bank’s corporate Internet banking platform, weAccess, recorded the highest volume of P1.36 trillion. This was up 43 percent from P952.14 billion in 2023. LandBank’s other major digital channels include iAccess, an online retail banking channel; Link.BizPortal, a web-based payment channel; Electronic Modified Disbursement System (eMDS), a facility for institutional clients and national government partners; and LandBank Bulk Crediting System (LBCS), an electronic bulk disbursement facility.
The LandBank MBA was named the “Most Innovative Banking Application” at the 12th Annual International Finance Awards 2024 in Bangkok, Thailand. The bank was also recognized as the “Best e-Banking Services Provider” and “Most Reliable Mobile Banking App Provider” at the World Business Outlook Awards 2025 by Singapore-based business magazine, World Business Outlook.
