The national ID system has the potential to be a game-changer for financial inclusion in the Philippines—particularly for the country’s underbanked and underserved population. This was the key message from Rolando R. Avante, Vice Chairman and President & CEO of Philippine Business Bank, during the Chamber of Thrift Banks’ 2025 Annual Convention held under the theme “Thrift Banks 2025: Resilience in Hybrid Banking.”
In an exclusive interview, Avante emphasized the importance of expanding the national ID system to include financial and credit-related data. Doing so, he said, would significantly streamline the credit application and approval process, particularly for small borrowers and micro, small, and medium enterprises (MSMEs) that often face barriers in accessing capital.
“In other countries, credit applications can be approved within minutes because centralized data is readily available,” Avante explained. “The same efficiency is possible here in the Philippines—if we maximize the capabilities of the national ID.”
He believes the national ID system can serve as a critical tool for economic development, especially in helping bring millions of unbanked Filipinos into the formal financial system. With verified identity and integrated data, individuals who were once invisible to financial institutions would be able to open bank accounts, apply for loans, and access a wide range of financial services more easily.
Avante also addressed opposition to expanding the national ID’s scope, particularly from groups wary of data collection and surveillance.
“The resistance often comes from groups that fear being tracked, such as the Reds or certain political sectors,” he said. “But these fears should not limit the potential of a system designed to uplift the lives of the financially excluded.”
He added that modern banking—especially in a hybrid environment—relies on accurate, accessible data to make informed decisions and offer efficient services. Without it, underserved communities remain locked out of financial opportunities that could transform their economic futures.
As the Philippines continues to modernize its financial infrastructure, experts like Avante are calling on regulators and policymakers to ensure that the national ID system becomes more than just a tool for identification—but a foundation for building an inclusive, accessible financial ecosystem.