Digizen ID the first Digital ID approved for Banking in Papua New Guinea
In June 2023, Digizen ID became the first Digital ID approved for Banking in Papua New Guinea as it graduated from the Regulatory Sandbox of the Bank of Papua New Guinea. The news were published in major newspapers such as the Post Courier and The National together with a media release on the Bank of Papua New Guinea’s website: “Media released by Acting Governor Ms Elizabeth Genia on Digizen Digital Bank ID graduates from the Regulatory Sandbox – the first Digital ID approved for Customer Due Diligence”.
During Sandbox testing two partner banks, MiBank and Mama Bank, successfully used the ID system to establish verified biometric identities for over 2500 people. The issued digital bank ID cards were subsequently used to open bank accounts so that people who previously were excluded due to lack of identity, were now able to open up a bank account and put their money into a safe place. Thanks to the fully digital process, establishing a verified identity and opening a bank account took only minutes - even in villages outside of internet connectivity!
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The approval of the Digizen ID by the Bank of Papua New Guinea is an important attestation to the security of the Digizen’s ID system and to its capability to drive financial inclusion in rural Papua New Guinea. Digizen is 100% committed to commercialising the technology in Papua New Guinea with the next steps being establishing Digizen in the country to prepare for a nationwide rollout. We welcome all parties interested in using the Digital ID as the system is interoperable and open to all.