Companies will gain access to the biometric project by the end of the year

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By the end of the year, it is planned to launch a pilot project that will allow companies to receive banking services remotely provided that their authorized employees submit biometric data. However, the full-scale launch of the service requires legislative revision. At the same time, experts point to weak data protection and lack of responsibility for its leak.

As Kommersant reported, a meeting of the Fintech Association Committee (FAC) took place on Wednesday which clarified the parameters for remote identification for legal entities and individual entrepreneurs. This will allow organizations to use banking services remotely based on biometrics submitted by their authorized employees. This was reported by Kommersant’s sources close to the meeting participants. 22 banks are expected to participate in the project. It was previously planned to start the project next year (Kommersant, June 26), but the Central Bank is going to launch it before the end of this year. The Central Bank and FAC yesterday were unable to promptly provide comments.

Vadim ArapovSvetlana Samuseva

Published July 18, 2019 in the Kommersant newspaper №125