Banking secrecy in a smartphone: NBU plans to transfer access to financial
The National Bank of Ukraine has launched an update to its banking secrecy rules, aiming to move to a paperless workflow. This envisages access to confidential data by clients and authorized persons through digital tools, which will facilitate a faster process of requesting and receiving information. The draft of the new regulations was submitted for public discussion on November 21.
Source Minfin
The main innovation is the simplification of identification, which entitles holders of banking secrecy to sign authorizations for disclosure of information using an advanced electronic signature. This was an important step towards the implementation of the paperless concept in the banking sector, as previously certain transactions required personal presence or a paper application with a stamp. With the new regulations, remote interaction will become fully legitimate.
In addition to customers, the changes will also apply to private enforcement officers, who will be able to send requests to banks in electronic form certified by a qualified electronic signature. At the same time, the range of persons who may request disclosure of banking secrecy and the scope of the requested information remain unchanged. This only reforms the format of data transmission, transforming it from paper to electronic.
