The Bangko Sentral ng Pilipinas (BSP) called for wider use of the national ID for opening financial accounts during a forum held at its head office on Monday.
The “National ID Forum” aimed to align efforts to integrate both physical and digital IDs into customer verification processes. Its theme was “Building Trust and Synergy in Digital Identity for an Inclusive and Secure Financial System.”
BSP Governor Eli Remolona Jr. cited the importance of the initiative. “The National ID tells a powerful story of inclusion and network effects. The more people we onboard, the more valuable the National ID becomes. As its usefulness grows, so does the social good,” he said.
“We’re building a Philippines where your identity is no longer a barrier, but a bridge,” Remolona said.
A key recommendation from the forum was to expand the use of the Philippine Statistics Authority’s (PSA) National ID Authentication Services (NIDAS). NIDAS enables real-time identity verification using biometric and demographic data.
The forum brought together key players from BSP, PSA, the Department of Information and Communications Technology (DICT), the National Privacy Commission (NPC), the Office of the Special Assistant to the President for Investment and Economic Affairs, the World Bank, Korea Credit Information Services and BSP-supervised financial institutions.
