He added that the first phase of digital ID will use electronic customer identification, or e-KYC, to open accounts, and could be in place as early as this March. A system will then be developed for high-level access, such as for loan applications or opening accounts to trade shares in the capital market.

Siriida Panomwon Na Ayudhya, assistant governor of the payment systems policy and financial technology group, said that 10 commercial banks are now participating in an e-KYC sandbox system.

“We are now testing the system and nearly ready to draft the act. When the act is in effect, it will be ready to use,” she said.

Source: http://www.nationmultimedia.com/detail/Economy/30364412