The Bangko Sentral ng Pilipinas (BSP) is urging financial institutions to adopt the Philippine National ID system more widely in customer onboarding, framing the initiative as a cornerstone of a more inclusive and secure financial ecosystem.
During the National ID Forum held on July 28 at BSP’s headquarters in Manila, top policymakers and financial leaders gathered to align efforts on integrating the physical and digital forms of the Philippine Identification System (PhilSys) into identity verification protocols. The event carried the theme “Building Trust and Synergy in Digital Identity for an Inclusive and Secure Financial System.”
BSP Governor Eli M. Remolona, Jr. emphasized the far-reaching significance of the National ID in transforming access to financial services. “The National ID tells a powerful story of inclusion and network effects. The more people we onboard, the more valuable the National ID becomes,” he said. “We’re building a Philippines where your identity is no longer a barrier, but a bridge.”
A central policy recommendation emerging from the forum was the expansion of the Philippine Statistics Authority’s (PSA) National ID Authentication Services (NIDAS). This real-time verification system utilizes biometric and demographic data and supports multiple formats, including plastic cards, printed credentials, and digital IDs.
The event brought together representatives from the BSP, PSA, Department of Information and Communications Technology (DICT), National Privacy Commission (NPC), the Office of the Special Assistant to the President for Investment and Economic Affairs, the World Bank, and Korea Credit Information Services, along with BSP-supervised financial institutions.
Senior BSP officials including Deputy Governor Bernadette Romulo-Puyat and Assistant Governors Arifa A. Ala and Redentor C. Bancod also addressed the forum, which highlighted both operational challenges and emerging opportunities in leveraging digital identity for broader financial inclusion.
The BSP’s call reflects a growing policy consensus that a trusted and widely used national ID system is pivotal to accelerating digital financial transformation and improving public service delivery across sectors.
