Russia gets biometric database for financial services

Russia will get a national biometric database next year in which citizens can be voluntarily included. They can then open accounts without having to physically go to a branch of the bank.

The possibility of remote identification by the biometric database makes financial services more available to people with disabilities and the elderly, as well as more competition and lower costs, claims Deputy Chairman of the Russian Central Bank, Olga Skorobogatova.

The database will initially contain facial scans and voice samples, but fingerprints and iris scans will be added at a later stage, according to Bloomberg. The site writes that the state-owned company Rostelecom will manage the database. The Central Bank of the Russian Federation will oversee the implementation by banks.

In the future, the use of the database for remote identification should also be used for other financial services such as opening accounts, such as insurance and microfinance. In addition, the central bank mentions application for ‘other public services’.