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The institution is a Joint Venture with NSDL e-Governance Infrastructure Ltd (NSDL e-Gov) of India which has designed and implemented path breaking solutions in the area of e-Governance and assisted various government departments in delivering public services to the citizens seamlessly. The organisation has also been a pioneer in creating innovative models for automation of several critical financial processes in India. NSDL e-Gov has substantial experience of providing e KYC solutions to various financial market entities. Banking on this credible experience the JV intends to provide a central KYC solution to the 100 M Filipinos for providing seamless access to banking and financial products by using e-KYC as a financial inclusion tool. The JV aims to create a huge impact and provide empowerment specifically to the unbanked but bankable individuals across Philippines

Centralized eKYC

The Centralized eKYC technology is the primary eKYC technology use by the Republic of India for their eKYC / eGovernment needs. This has been used since 2003 and has proven secure and hack proof. The central repository database on the other hand shall be hosted inside a 100 % owned government universal bank through the existing server(s) of PhilPaCS as a component of its financial inclusion initiatives that targets NGAs, LGUs, SMEs; and cooperatives with their constituents or members.

The highlights of the details of the technology is discussed below:

  • Unique eKYC ID – 12 digit unique eKYC ID number
  • Unique eKYC ID authentication is a process where Unique eKYC ID Number along with Unique eKYC ID holder’s personal identity data (biometric/demographic) information is submitted to BSP and the BSP responds only with a “Yes/No” response
  • Purpose of authentication is to enable residents to provide their identity and give access to benefits
  • Back Office Receipts, Collection and Disbursements System for Online Payment

eKYC Services

  • e-KYC (e-Know Your Customer) is the process of verification of Person(s) in an electronic format
  • Demographic information shared by BSP– Name, Address, Date of Birth, Gender, Photograph, Mobile No. and e-mail id (if available)

eKYC Enrollment Kit

The Kit is composed of hardware and software. The hardware component is a compact light weight case which includes laptop, iris scanner, camera for face recognition, fingerprint scanner, and a second monitor for verification.

The software component is a customized highly secure enrollment client system that shall be synchronized to the centralized eKYC system. The technical processing capability of the enrollment kit is seven (7) minutes per client.