Ukraine's National Bank wins Central Banking Awards for BankID development

This is reported by the National Bank of Ukraine (NBU). 

“The Central Banking Board of Judges recognized the NBU for the development of the state remote identification system, the NBU BankID System, which provides stable and uninterrupted access to important public and financial services for Ukrainian citizens,” the press service says

International experts reportedly noted that during the war, the continuous operation of BankID was of particular value, as it provided Ukrainians with an urgent opportunity to continue receiving government and financial services remotely. Thus, citizens of the country who fled their homes due to the hostilities were able to access electronic documents and Diia services.

“It is a great honor for the NBU team to receive international recognition for our efforts to promote financial innovation. We have been developing the NBU BankID System for seven years, and over the years we have significantly modernized it and expanded the range of participants. Currently, more than 99% of Ukrainian banks' individual customers have access to the system,” Oleksii Shaban, Deputy Governor of the NBU, said. 

The NBU added that Ukrainians had the opportunity to open bank accounts remotely by identifying themselves through the system. For example, when they were unable to visit a bank branch due to forced displacement or when the bank could not provide physical customer service during the war.

The BankID system has 130 participants – 39 identifying banks and 91 service providers. About 100,000 successful identifications are made in the system every day. Last year, there were 32.8 million, which is 9% more than in 2021.

For reference. The UK Central Banking publishing house was founded in 1990. It manages publishing the specialized magazine, a series of books and thematic brochures (whitepapers), as well as the annual Central Banking Awards. It also organizes educational and professional events for central bankers and financial market participants.

Central Banking is the top international magazine for central bankers, read by employees of more than a hundred central banks around the world.

The Central Banking Awards is an annual award of the specialized magazine Central Banking. It consists of 26 nominations, 13 of which recognize successful cases and achievements of the world's central banks, and the other 13 – of the financial market participants.