PSA partners with rural bank in Negros Occidental for PhilSys registration, promotion of financial inclusion
Date of Release: 17 January 2024
Reference No. 2024-15
The Philippine Statistics Authority (PSA) signed a Memorandum of Agreement (MOA) with a rural bank in Negros Occidental to bring registration services of the Philippine Identification System (PhilSys) to more Filipinos and to promote financial inclusion.
A collaboration with Dungganon Bank Incorporated, the signing of the MOA formalizes a colocation strategy between PSA and the microfinance rural bank based in Bacolod City, Negros Occidental.
Through the colocation strategy, PSA will be able to offer PhilSys registration at Dungganon Bank Inc. branches. Likewise, the Dungganon Bank Inc. will prioritize opening of bank accounts for unbanked Filipinos who have registered to PhilSys.
Under the MOA, bank account opening will also be made available at the fixed registration center of the PSA Negros Occidental following the completion of necessary preparations.
PSA Undersecretary Claire Dennis S. Mapa, PhD, National Statistician and Civil Registrar General, PhilSys Registry Office (PRO) Officer-in-Charge, Deputy National Statistician Fred S. Sollesta, Use Case Development and Management Service (UCDMS) Assistant National Statistician Emily R. Pagador, Regional Statistical Services Office (RSSO) VI Officer-in-Charge, Regional Director Nelida C. Amolar, and Provincial Statistical Office (PSO) – Negros Occidental Officer-in-Charge, Chief Statistical Specialist John F. Campomanes were present during the signing ceremony at the Negros Women for Tomorrow Foundation (NWTF) Building in Bacolod City.
Also in attendance were Dungganon Bank Incorporated President Corazon A. Henares, Chairman of the Board Wilhelmina R. Gonzales, General Manager Raymond Patrick S. Serios, Service Head Dorothy Anne D. Jacinto, and other key personnel.
“This colocation strategy of the PSA with the Dungganon Bank was established not just to encourage our citizens to register to PhilSys, but also to widen the reach of the agency in promoting financial inclusion through facilitating the bank account opening of our citizens who have successfully registered to PhilSys,” Usec. Mapa said.
“We are hoping to provide services that would have a direct, positive impact on all Filipinos across the country and this will be the start of the great journey. The anticipated success of this strategy would lay the groundwork for sustainable and equitable national development,” he added.
This initiative follows the many efforts of the PSA to promote financial inclusion through PhilSys. In 2021, the PSA partnered with the Land Bank of the Philippines (LANDBANK) for a similar colocation strategy. The partnership allowed unbanked Filipinos to open transactional accounts immediately after PhilSys registration, which can be used for various financial transactions.
PSA and LANDBANK’s colocation effort was cited in a Bangko Sentral ng Pilipinas (BSP) report as a major contributor to the reported 170 percent increase in the number of Basic Deposit Accounts (BDAs) opened in the first quarter of 2023 compared to the same period in 2022.
By the end of 2022, these accounts have been used in 108,473 financial transactions amounting to P275.8 million.