Special Assistant to the President on Investment and Economic Affairs, Frederick D. Go, expressed delight in seeing some of his former counterparts in the private sector heed his call to participate in the government’s efforts to get the national ID working.
“The significance of this progress is all about one thing: developing the user-case for the digital national ID,” Go said.
“It is very clear to me, our goal was to get the private sector, particularly the banks, and the financial institutions to accept and to want to use the national ID. Therefore, I am happy to see that some of them are now our partners in this and we are just beginning,” he added.
More than being used for financial and monetary transactions, Go revealed that the identification facility can also be tapped by other private users including those in the schools, hospitals and even insurance providers, among others.
Officials and representatives of private sector financial institutions praised the recent launch of the digital national ID which, they believe, will be a helpful tool in easing the way they do their businesses.
Lito Villanueva, Executive Vice President and Chief Innovations and Inclusions Officer at RCBC and Founding Chairman of the Fintech Alliance Philippines said with an operational national ID “will drive significant advancements in financial inclusion and digital transformation.”
FinTech Alliance PH is the country’s first and largest association of digital ecosystem players collectively generating over 95 percent of fintech retail financial transaction volume today.
