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NBU BankID System: Q1 2024 Summary

NBU BankID System: Q1 2024 Summary

The National Bank of Ukraine (NBU) reports the constantly growing demand for the NBU BankID System (NBU BankID) as an instrument for remote identification and verification to access a wide range of remote services in Ukraine.

In Q1 2024, the total number of successful electronic identifications using NBU BankID was 16.1 million, a 16% increase in contrast to Q4 2023. At present, this is the highest number of successful quarterly identifications since the launching of NBU BankID.

In Q1 2024, eight new service providers subscribed to NBU BankID, specifically nonbank financial institutions issuing online loans.

Currently, NBU BankID has 142 participants: 38 identifying banks and 104 subscribed service providers.

Please note that 99.9% of customers holding a bank account have access to a broad range of remote services through NBU BankID. During the full-scale war, NBU BankID enables millions of Ukrainians to use remote public financial and other commercial services. 

NBU BankID was highly praised by Ukrainian experts. In particular, the NBU won the annual Ukrainian Fintech Award twice in a row and was awarded Best Remote Identification Provider for the development of NBU BankID.

At the same, the NBU continues to deliver and ensure an effective development of NBU BankID.

“We are working on implementing new functions for automated procedure for resolving disputes available in the private account of a subscriber. This should streamline the interaction between commercial subscribers on contesting electronic identifications. The dialogue between the service provider and the identifying bank will be in a convenient electronic environment”, said Olga Vasylieva, Deputy Director of the Payment Systems and Innovations Department.

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