NBU implemented new client identification rules to enhance financial inclusion
The National Bank of Ukraine (NBU) introduced new methods of identification and verification for individual clients, which will ease the process of identity confirmation for people with physical disabilities.
The new regulation by the NBU stipulates that bank clients can verify their identity through accompanying persons or bank employees in specific cases. These changes aim to promote financial inclusion by providing banking services to a greater number of people. If a client is unable to provide the original document themselves, a trusted person or a bank employee can do so. The changes also include other ways to confirm the client’s consent for photo identification, such as audio or video recordings.
These innovations were adopted following a wide public discussion of the incident with a veteran of the Russian-Ukrainian war, who was refused a bank card due to the inability to undergo standard photo identification. The NBU’s decision aims to expand access to financial services, considering the needs of people with physical disabilities, and aligns with the norms of the Law “On Amendments to Some Legislative Acts of Ukraine on the Development of Financial Inclusion in Ukraine.”
The new rules take effect from July 17.
| Changes | Explanation |
|---|---|
| Identification through accompanying persons | The possibility of providing documents by a third party |
| Alternative ways of photo identification | Client’s consent can be certified by audio or video recording |
| Effective date | From July 17 |
