The Bangko Sentral ng Pilipinas (BSP) wants the National ID system linked to banks, e-wallets, and other financial services for KYC. The plan is meant to make identity checks safer, cut fraud, and help more Filipinos join the financial system.
The draft memo says all BSP-supervised institutions must connect to the National ID Authentication Services (NIDAS). This tool verifies identity using biometrics and demographic data like face scans, fingerprints, and ID numbers.
Universal and commercial banks with retail services, digital banks, e-money issuers, and virtual asset providers will have three months to comply once the rules are final. Other banks and payment operators will get six months.
BSP set different levels of checks based on risk. These range from simple yes/no matches to full demographic verification. Banks can still accept other valid IDs or use backup methods if a customer has no National ID or if NIDAS is down.
The central bank said linking the National ID will make onboarding faster and reduce the need for physical IDs. It also supports the government’s push for digital services and stronger consumer protection.
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If approved, the rule will standardize identity checks across the financial sector. BSP expects this to make digital transactions safer and more accessible for millions of Filipinos.
