AUB Becomes First Philippines Bank to Integrate eVerify Digital ID System

Asia United Bank (AUB) is set to become the first bank in the Philippines to fully integrate the Philippine Statistics Authority’s (PSA) eVerify system into its branch banking services. The integration will enable customers who have registered with the national ID system to easily open bank accounts without the need for physical identification cards or forms.

AUB, which has been using the eVerify system for its e-wallet service HelloMoney, will now extend this service to its branch banking operations, aiming to enhance customer convenience.

The PSA’s eVerify system offers advanced identity verification tools, including facial recognition technology and real-time data verification. A key feature of eVerify is the “National ID Check,” which allows for the verification of both physical and digital formats of the national ID by scanning a QR code. The system’s facial recognition technology removes the need for traditional forms of identification, such as physical ID cards or signatures.

AUB’s chief compliance officer, Claire Dela Rosa, emphasized that this system allows for seamless banking transactions, stating, “Your face is your ID.” Customers need only undergo a facial recognition process and a liveness test using an iPad in the bank’s branches to authenticate their identity. The technology can also be applied to over-the-counter transactions, such as cash withdrawals, eliminating the need for one-time passwords or signatures.

AUB’s adoption of the eVerify system is part of a broader effort to promote financial inclusion in the Philippines. By allowing individuals to open accounts and perform banking transactions using only their digital ID, the bank hopes to increase access to financial services, particularly for those who may not yet have physical ID cards.

Dela Rosa pointed out that this integration not only simplifies the account opening process but also enhances security, as the system’s biometric verification helps prevent identity fraud.

The move by AUB follows its accreditation as a “Relying Party” by the PSA on January 31, 2024, and the receipt of a security token from the PSA in July 2024.

Sources: Manila Standard, Philippine News Agency

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September 19, 2024 – by Ali Nassar-Smith