The Government is to sign a Memorandum of Understanding (MOU) with financial institutions for them to participate in the National Identification System (NIDS) Pilot.
To date, all 10 members of the Jamaica Bankers’ Association have reportedly expressed intent to sign the MOU.
This was disclosed by Minister without Portfolio in the Office of the Prime Minister (OPM), Floyd Green, who has responsibility for the roll-out of the NIDS. He was speaking Tuesday during his contribution to the Sectoral Debate in Gordon House.
Green said the collaboration with the financial institutions is part of efforts to make it easier for the “unbanked” to become part of the formal system.
Floyd Green (file photo)
“When we think digital, we are ensuring that we make the lives of Jamaicans easier and more hassle-free. We know that with the absence of a holistic database for verification, it is very difficult for persons who are doing business or opening accounts with commercial entities, like the banks,” Green stated.
“Through the National Identification System, we are helping the unbanked to better handle their banking needs,” he added.