Manila: The Philippine Statistics Authority (PSA) and GoTyme Bank Corporation recently signed an agreement for a co-location strategy in mobile registration activities of the National ID system.

In a statement on Thursday, the PSA said the agreement was signed on Sept. 10 at the PSA headquarters on East Avenue in Quezon City.

The PSA said the collaboration aims to further promote financial inclusion by allowing unbanked Filipinos who have just registered to the National ID system in mobile registration activities to open bank accounts for free with GoTyme Bank.

Mobile registration activities include PhilSys on Wheels, PhilSys on Boat, and house-to-house registration.

‘The PSA’s colocation strategy was not only designed to boost National ID registration but also to extend our reach in facilitating financial inclusion, especially to our underserved kababayans,’ PSA Undersecretary and National Statistician Dennis Mapa said.

‘Our goal with this initiative is to deliver services that make a meaningful and pos
itive impact on communities nationwide. We anticipate that the success of this strategy will create a strong foundation for sustainable and equitable national development, leading to an improved quality of life for all,’ he added.

Aside from its partnership with GoTyme Bank, the PSA earlier partnered with the Land Bank of the Philippines for co-location in National ID registration centers.

The PSA said through the partnership with LandBank, 5.8 million were able to open transactional accounts.

By the end of 2022, LandBank recorded 108,703 transactions using its prepaid cards issued to registered persons.

The PSA also has a collaboration with Dungganon Bank Incorporated, a microfinance rural bank based in Bacolod City, Negros Occidental which also allows registered persons to open bank accounts for free after they have successfully registered with the National ID system.

Source: Philippines News agency