15 Aug FinTech Group Expresses Support for National ID System
FintechAlliance.PH Chairman Angelito “Lito” M. Villanueva said this week that the newly approved PhilSys Act will help more Filipinos get better access to various financial services.
Villanueva added that the national ID system would serve as a great equalizer to scale financial inclusion. The FINTQ head also mentioned that one of the major factors for the decline in loan disbursements by formal financial institutions in 2017 was the ‘lack of necessary ID, according to the BSP.
Meanwhile, the NPC reassured that it has provided the agency responsible for implementing the national ID with advice and guidance to address the privacy risks identified at the early stage of project design.
Source: Business World