MINSK, 1 December (BelTA) – An interbank system for identifying clients will go operational in Belarus as from 1 October 2016. The system will enable conditions conducive to the digital transformation of the national banking industry, BelTA learned from representatives of the country's central bank as they commented on the presidential decree on developing digital banking technologies. The Belarus president signed decree No. 478 on 1 December 2015.
According to representatives of the Information and Public Relations Office of the National Bank of the Republic of Belarus, the introduction of digital technologies in the banking industry is a global trend, which is also supported by Belarusian banks. “More and more banking services across the globe are offered via digital channels. Further digital transformation will be possible only when interbank client identification is in place. The lack of the interbank client identification system is the main obstacle that impedes the access of natural persons and legal persons to banking services and products, which are available remotely via digital interaction channels,” BelTA has been told.
Once the interbank client identification system is in place, clients will be able to get banking services remotely from any Belarusian bank at a time of their choosing after getting through the identification procedure at any bank in person. The system will enable Belarusians to enjoy services of any Belarusian bank regardless of whether an outlet of the specific bank is available in their area.
The common computing and information space will be used as the technological foundation for deploying the interbank client identification system.
At present the National Bank of the Republic of Belarus takes care of developing the common computing and information space, enables the operation of the automated transaction system Rasschet, provides regulations and guidelines on collecting payments and making transactions, including via the common computing and information space. At the same time the practice is well outside the core mission of the country's central bank and runs contrary to the international practice.
An independent economic operator will be set up in line with the same presidential decree that envisages the creation of the interbank client identification system. The non-banking credit and finance institution Common Computing and Information Space will be set up. The organization is supposed to start working as from 1 April 2016.
