Bank account opening using PhilSys
Banks in the Philippines use Philippine Identification System (PhilSys) as official proof of identity for customer onboarding and account opening. Customers enter their details, such as name and date of birth, and complete a facial liveness verification through the bank’s mobile app or website. The bank then connects to the National ID eVerify platform to verify the customer’s identity against the PhilSys Registry. After successful identity verification, the platform shares the verified details with the bank. This process eliminates manual document checks, which in turn reduces processing time and cost.
Key terms
Financial Inclusione-KYCKnow-Your-CustomerDigital onboarding