The Philippine Statistics Authority (PSA) and Ateneo de Manila University have urged banks and other financial institutions to use the country’s National ID Authentication Services (NIDAS) to verify customers during a forum earlier this month.
The National ID Forum: Utilizing the National ID for Financial Services gathered 45 representatives from banks and other BSP-supervised financial institutions.
Meanwhile, the forum took place as the Bangko Sentral ng Pilipinas (BSP) considers asking banks and other regulated financial institutions to link their customer verification systems to the National ID database and use NIDAS for identity checks.
Additionally, NIDAS enables financial institutions to verify customer identities using National ID records. It supports Know Your Customer (KYC) requirements for account opening and other financial services.
For his part, PSA Officer-in-Charge Assistant National Statistician Atty. Henedine P. Palabras said the National ID can improve access to financial services by giving Filipinos a reliable way to prove their identity.
“For many Filipinos, access to financial services starts with one essential need: a trusted way to prove their identity,” Palabras said.
At the same time, the forum featured discussions on how NIDAS works and how banks can integrate their systems with it. In addition, representatives from the BSP Financial Inclusion Office joined a panel discussion.
Meanwhile, Ateneo faculty member Gerald G. Divinagracia presented a KYC process map. Technical Resource Lab Director Richard P. Lozada also showed an AI-assisted National ID validation application.
Additionally, the push comes as more banks adopt the National ID in their services. On August 27, the PSA announced a partnership with Bank of the Philippine Islands (BPI) letting customers verify their identity and open accounts using a selfie matched against National ID records.
PSA said it will continue working with financial institutions and government agencies to expand NIDAS use and support safer digital transactions and wider access to financial services. (Rich Noellah C. Longakit © Philippine Daily Inquirer)
