The process of obtaining financial services for citizens will become even easier

The National Bank of Ukraine and the Ministry of Digital Transformation of Ukraine are launching a joint project that will greatly simplify the exchange of documents between banks, their customers, and holders of state registers. This will make the services provided by banks to citizens more convenient and accessible.

This refers to the comprehensive transfer of copies of electronic documents and/or individual data contained therein generated using the Diia application (i.e., "comprehensive ^sharing*).

The Government of Ukraine adopted the relevant resolution on April 13, 2024.

"Together with the Ministry of Digital Transformation, we are implementing a new model that will significantly simplify the process of obtaining financial services by citizens. For us, this is not only a tribute to modern digital trends, but also an opportunity to ensure barrier-free financial services and improve the processes of identification/verification, account opening, loan application, and other financial services. In particular, in times of war, when paper documents may be lost or damaged, people should be able to access all services using electronic documents. This reduces the risk of customers not receiving services and speeds up their servicing," said Oleksiy Shaban, Deputy Governor of the NBU. "In addition, it increases the ability of banks to verify the accuracy of information provided by the client from primary sources - state registers, in particular, about their financial condition and solvency, and to assess credit risks.

"Document sharing is a revolutionary technology that simplifies document flow, removes unnecessary copies and saves time for both employees of institutions and people. Thanks to multisharing, Ukrainians will be able to share not only copies and data of digital documents, but also income statements, OK-5, OK-7 in a few clicks via Diia. The bank sends a request, and the client confirms it with Diia.Signature, so they immediately see the name of the banking institution, the list of required documents, and understand to whom they are sending copies," said Mykhailo Fedorov, Vice Prime Minister for Innovation, Education, Science and Technology - Minister of Digital Transformation.

About the content of "integrated sharing"

The proposed model of integrated sharing will allow citizens to provide a banking institution with both electronic copies of several digital documents and separate information about their financial condition at the same time upon a single request.

Currently, if a citizen needs to provide electronic copies of several digital documents when receiving banking services, he or she usually needs to send electronic copies of each digital document separately. If there are 10 such documents, they will have to go through the same procedures for transferring electronic copies of digital documents from different state registers 10 times: show the employee the barcode of the digital document and confirm the request to send a copy. This mechanism is not very convenient for both the service user and the banking institution.

Therefore, the technological mechanism of the "integrated sharing" model will allow banks to receive customer information from state registers in one "package" using the Diia app.

It is important that the client's consent to exchange information in this way is mandatory, and only the client chooses which banking institution and which set of information he or she wants to provide.

On barrier-free access and economic development

The implementation of the "integrated sharing" model will significantly simplify and speed up the process of obtaining financial services, saving time and operating costs for banking institutions. After all, users will be able to send not only copies and data of digital documents, but also income certificates, OK-5, OK-7 at a time through Diia.

This approach ensures a high level of confidentiality, protection of personal data, and prevention of their misuse.

It is also expected that the model will contribute to

• Ensuring the continuous operation of the financial system under martial law, creating additional opportunities for customers to conveniently receive financial services;
• revitalize lending by optimizing the process of providing information about the client to the bank in order to obtain financial services, as well as verifying the data provided by the client.

In addition, the initiative of the NBU and the Ministry of Digital Transformation on "integrated sharing" will have a positive impact on the development of public services, in particular in the financial sector, and the digital transformation of Ukraine in general.