According to the Technical Advisor to the Minister Without Portfolio in the Finance Ministry, Viralee Latibeaudiere, the new National Identification System, NIDS will be particularly beneficial to financial institutions.

She says not only will it lessen their burden of proof of identity with one piece of identification, but it will lessen the incidence of identity theft.

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She says Jamaica cannot afford to be left behind in the digital economy.

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Viralee Latibeaudiere was addressing the official launch of the Jamaica Society of Chartered Financial Analysts last Friday. The first phase of NIDS is projected to be rolled out in early 2019.