National Bank empowered to declare system of identification

National Bank requests public discussion on draft decree to develop digital banking technologies

The unified identification system database would negate the need for Belarusians to bring their passports with them as a form of identification at the bank. Included in the system will be bank clients, micro financial and leasing organisations, and Forex companies.


National Bank introduces new technologies

The database will facilitate a single settlement and information space, promoting remote banking services. Although the law does currently allow banks to provide services to customers remotely, legislative and infrastructural constraints place certain obstacles in the way of a full service: in particular, articles 6 and 7 of the Law ‘On Preventing the Legalisation of Proceeds from Crime, Terrorist Financing and Financing of Proliferation of Weapons of Mass Destruction’. This establishes the need for the physical presence of a person when opening a bank account and during the procedure of identification.

Meanwhile, loan processing currently requires a client to consent to revealing their credit history, by visiting the bank to write a statement. The unified identification system aims to solve these and similar problems, obliging a person to identify themselves only once, during their first personal visit to the bank, with their passport, and when documents are signed personally. Thereafter, a client may contact the bank remotely, without going through the identification procedure. It is assumed that clients will also forgo the identification procedure when addressing other banks or financial organisations.

By Mikhail Vetrov


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