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Sovcombank launches loan application service based on digital profile

Monday 1 June 2020 10:49 CET | News

Sovcombank has become one of the first Russian banks to get connected to the ‘Digital Profile’ to allow loan applications, according to the official press release.

The service is commissioned by the Russian Ministry of Digital Development, Communications and Mass Media, and the Central Bank of Russia.

The service users will be able to submit loan applications online, via Sovcombank's website, with the bank gaining access to the borrower’s details specified in their digital profile on the Public Services Portal. At first, Sovcombank's customers will be granted the option to apply for a cash loan.

Digital Profile is a service making individuals’ data from various databases (Federal Tax Service, Federal Service for State Registration, Ministry of the Interior, Pension Fund, etc.) available to financial institutions. This will allow customers and banks to interact remotely, without the need for submitting any additional documents.

Most importantly, the access to such data is subject to the customer’s consent, which will be stored in the unified register of digital consents.

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Keywords: Sovcombank, loans, banking, digital profile, Federal Tax Service, Federal Service for State Registration, Ministry of the Interior, Pension Fund, Russia, financial services
Categories: Banking & Fintech
Companies:
Countries: Russian Federation
This article is part of category

Banking & Fintech






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