Data on customers of banks of the Russian Federation will be reduced to one register

Deputy Chairman of the Bank of Russia Olga Skorobogatova at the International Financial Congress spoke about the emergence of a single platform for customer identification - a registry of information for mandatory KYC procedures in the banking sector (“know your client”).

The deputy chairman of the Central Bank explained: “Banks are required not only to identify the client when accepting services (to collect data from all state registers and so on), but also to update information about him periodically. Different organizations collect approximately the same information about the same client, investing large resources in compliance. The creation of a single platform will allow banks to warn customers with a "not very good history" at lower costs.

It also became known that the Central Bank plans to create a register of digital consents for the use of personal data, which should become the central element of the client’s digital profile in order to streamline the use of customer data.

On materials of the following website: https://rg.ru/2018/06/08/dannye-o-klientah-bankov-svedut-v-odin-reestr.html