Biometrics banking services

Aug, 06 2019

The Bank of Russia (CBR) is going to launch a pilot project in servicing corporate clients from 2020. This project with the using of face and voice samples of the citizens is planned to be implemented by a Single biometric system (EBS).

The procedure of biometrics recording in banks takes a few minutes. It consists of two elements — creating a digital “cast” of a client’s face and recording his voice. The client needs to look into a special camera and say a few numbers in a free order.

There advantages of biometric identity data use are the following. Firstly, It is expected that use will increase the availability of financial services for the elderly and disabled persons. Secondly, customers will be able to receive all the necessary services quickly, regardless of the time of day, location and the Bank’s branch availability in the region.

In addition, within the framework of the law «On countering the legalization of illicit gains (money laundering) and terrorism financing», the Federal Assembly adopted on first reading a bill obliging banks to collect biometric data of clients (115-FZ). This document concerns the customers applying for a deposit or a loan.

The document specifies that banks are entitled to use such data for any banking operations and transactions with individuals.

Biometrics banking services
Valentina Khlavich
Managing Partner