The Central Bank is preparing innovations in the field of online lending. The Central Bank sent its proposal to
banks and credit bureaus (BCH). The decision of the Russian state bank is final: the relevant amendments to the law “On credit histories” will be made to the State Duma.
This is a procedure for identifying online borrowers. As conceived by the Central Bank, now it needs to be done with the help of the Unified Identification and Authentication System (ESIA), writes
Banks will have to verify identification data by sending a corresponding request to the ESIA, the Russian Pension Fund or the Federal Mandatory Medical Insurance Fund. If these organizations do not give the go-ahead, it will mean that the online borrower has not registered in the identification system. In this case, the bank will not have access to the borrower's credit history.
To get a loan, he will have to come to the bank in person. Thus, it will not be able to take advantage of the main advantage that online lending provides.
However, bankers warn of possible difficulties associated with a sharp reduction in identification methods, which citizens are already accustomed to use. “To confirm, banks use sms-authorization or scratch cards with one-time passwords, which are also used for requesting the CII. Electronic encryption certificates can also be used, which are issued to the client at the first visit to the bank, ”explains Alexander Shornikov, director of the retail lending department at Moscow Credit Bank, to Vedomosti.
Yaroslav Poleshchuk, Director of Retail Credit Risk at Binbank, recalls that for the time being there is an alternative to sms-confirmations - recording a telephone conversation with a borrower in which he agrees to a request to a CIB. “VTB 24” receives the client’s consent in writing with the signature or uses the client’s electronic signature, said the director of the state bank’s risk department Andrei Guletsky.
The manager of one of the BKI says that sometimes the identification takes place with a payment card: sending the client 1 ruble on a credit card, the lender determines that the money will not go to the fraudsters. He believes that the innovation will rather complicate the life not of the borrowers, but of the banks themselves.
According to the Ministry of Communications and Mass Media at the beginning of May, over 47 million people are registered with the ESIA But not all potential borrowers are users of the public services portal, Yevgeny Ivanov, retail risks director at Promsvyazbank, points out. Perhaps some of them will no longer apply for loans online and come to the offices.
The innovation will require banks to refine the remote banking infrastructure, as well as the creation of certification centers, Shornikov points out.
However, there is a chance to do without public services: banks can in advance receive from the client consent to inquiries at the CII or receive only the information part of the credit history in the bureau, which, as a rule, contains key data on the borrower, Shornikov thinks.
RBC with reference to the Central Bank writes
that this measure is an answer to the request of the creditor companies. In February 2017, a consultative report “On risk assessment of individual borrowers based on debt burden indicators” was published on the Bank of Russia website.
In the meantime, in many banks, the decision on online applications is made so quickly that the organization does not have time to conduct a thorough check of the history of its potential client, so this option to obtain borrowed funds is suitable even for people with a bad credit history.