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NBU Provides Remote Access to Its Credit Register

NBU Provides Remote Access to Its Credit Register

The National Bank of Ukraine (the NBU) is planning to provide remote access to its Credit Register. Under quarantine and restrictive measures related to the spread of COVID-19, remote access will enable applicants – individuals and legal entities – to obtain information from the NBU Credit Register more conveniently and quickly.

Applicants will be able to query the Credit Register online to obtain information. An individual’s data can be verified using the NBU BankID system or a qualified electronic signature (QES).

An individual can sign an application for information from the Credit Register that is submitted in electronic form using their personal QES, while a legal entity can sign it with the QES belonging to its director.

At the same time, an applicant may apply for information from the Credit Register by filing a paper-based request.

The individual receiving such information on someone’s behalf must attach a copy of a document confirming their authority to file the application.

Relevant regulations are stipulated in Draft Amendments to the Regulation On the NBU Credit Register approved by NBU Board Resolution No. 50, dated 4 May 2018.

Analysis of the regulatory impact of these Draft Amendments.

Please send your comments and proposals regarding the Draft Amendments to the NBU’s postal or e-mail address until 21 June 2020.

Postal address: Methodology Department, National Bank of Ukraine, 9, Instytutska St., Kyiv, 01601 

E-mail: 22SPRA@U1H0

For reference:

In 2018, the NBU established the centralized Credit Register. The Credit Register stores all information on the credit operations of borrowers that owe a single bank more than 100 minimum wages in debt.

While sending information about borrowers that are individuals to the Credit Register, the banks are guided by Ukrainian law, in particular the Law of Ukraine on Personal Data Protection.

Borrowers whose data were submitted to the Credit Register are also entitled to receive information about themselves from this register and, if they disagree with its content, to request changes to the information.

The Credit Register currently contains information on more than 75,000 borrowers, including 48,000 individuals and 27,000 legal entities.

NBU BankID enables carring out the identification of individuals remotely.   With NBU BankID, users can safely get remote access to administrative (public), financial, commercial, and other services.

The system covers more than 100 types of administrative and commercial services. BankID has 38 participants: 15 banks (PrivatBank, Oschadbank, Alfa-bank, FUIB, Monobank (Universal Bank), OTP Bank, A-Bank, Bank Alliance, Forward Bank, Pivdenny Bank, KredoBank, Radabank, Motor-bank, Bank Vostok, Idea Bank) and 23 nonbank institutions (service portals).

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