Manila: State-run Landbank and the Overseas Filipino Bank (OFBank) have successfully registered 211,000 new accounts opened without the need for a physical ID since the introduction of their National ID-enabled service in July. According to Philippines News Agency, this initiative marks a significant step towards making financial services more accessible to Filipinos, as highlighted by Landbank of the Philippines in a statement released on Friday.

The new identity verification feature, launched by Landbank, allows clients to open accounts through the Landbank and OFBank's Mobile Banking App or digital onboarding website. This is achieved using real-time verification powered by the Philippine Statistics Authority (PSA), thereby eliminating the requirement to present or upload physical government-issued IDs.

Landbank President and CEO Lynette Ortiz emphasized the importance of this technological advancement, stating, "Together with OFBank, PSA, and DICT (Department of Information and Technology), we are leveraging technology to make banking accessible to every Filipino." She further highlighted that enabling real-time National ID verification is a major milestone in digital onboarding, reinforcing Landbank's leadership in driving financial inclusion.

OFBank President and CEO Leila Martin noted the benefits of this initiative for many overseas Filipinos, stating that it makes account opening for them and their families "simpler, faster, and more convenient, regardless of distance."

The collaboration between Landbank, OFBank, DICT, and the PSA was formalized on August 14 with the signing of the National ID Authentication Services (NIDAS) Subscription Contract, which endorses NIDAS as the primary proof of identity across their onboarding platforms.