Ukraine's National Bank recognised by Central Banking Awards once again: for BankID system development

The National Bank of Ukraine (NBU) has received another international Central Banking Awards award in the Payments and Market Infrastructure Development nomination.

Source: Ukraine’s National Bank’s press service 

Quote: "The Judicial Board of Central Banking recognised the National Bank for the development of the BankID System of the National Bank of Ukraine, the state system of remote identification.

The NBU's BankID system provides Ukrainian citizens with stable and uninterrupted access to important state and financial services," the message said.

Details: As international experts noted, its continuous work gained special value during the wartime, because it provided citizens with an urgent opportunity to continue receiving state and financial services remotely, the NBU added.

In particular, Ukrainians who were forced to flee due to hostilities were able to get unhindered access to electronic documents and services of the Diia state mobile application.

"In addition, citizens had the opportunity to remotely open bank accounts by identifying themselves using the system. For example, when they did not have the opportunity to visit a bank branch due to forced relocation or when the bank could not provide physical customer service in wartime conditions," the NBU said.

The NBU's BankID system currently has 130 workers. These are 39 banks-identifiers and 91 service providers. About 100,000 successful electronic identifications take place in the system every day (32.8 million in 2022, which is 9% more than in 2021).

Background: This is the second award of this year's Central Banking Awards received by the National Bank; the NBU was declared the central bank of the year on 13 March for its effective work last year in the conditions of a full-scale war.

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