NBU wins second consecutive Central Banking Award

21 March, 01:00 AM
NBU wins second Central Banking Awards in 2023 (Photo:Press center of the NBU)

NBU wins second Central Banking Awards in 2023 (Photo:Press center of the NBU)

The Central Banking Awards presented the National Bank of Ukraine (NBU) with an award in the field of payment and market infrastructure – for developing BankID, Ukraine’s state-run digital identification system, NBU’s press service reported on March 20.

According to the message, international experts noted that during the war, NBU continued operate efficiently, providing citizens with the ability to continue receiving public and financial services remotely.

“We have been developing the NBU BankID System for seven years, and over the years we have significantly modernized it and expanded the circle of (participating banks),” said NBU Deputy Chairman, Oleksiy Shaban.

Video of day

“Currently, more than 99% of Ukrainian banks' individual clients have access to the system.”

He added that in order to ensure smooth work of BankID, NBU’s services related to the system are provided free-of-charge, for as long as martial law remains in effect. Meaning, participating commercial banks aren’t charged maintenance and processing fees.

NBU’s BankID is a state system of remote identification ensuring secure transfer of consumers’ personal data from the bank where the account is opened to any entity that provides a service to consumer.

BankID currently has 130 participants members, 39 banks that provide identification, and 91 subscribers and service providers. Every day, around 100,000 successful electronic identifications are processed by the system (32.8 million in 2022, which is 9% higher than in 2021).

On March 13, NBU was recognized as the Central Bank of the Year, according to the results of Central Banking Awards – for its effective work in 2022 amid Russia’s full-scale invasion of Ukraine.

We’re bringing the voice of Ukraine to the world. Support us with a one-time donation, or become a Patron!

Follow us on Twitter, Facebook and Google News

Ukraine Today
Fresh daily newsletter covering the top headlines and developments in Ukraine
Daily at 9am EST
Show more news