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Businesses will be able to remotely open accounts and receive loans

Businesses will be able to remotely open accounts and receive loans

Starting from next year, companies will be able to remotely open bank accounts and receive loans.

This will be possible after the introduction of the Unified Biometric System. It is planned for launch on July 1 this year.

In order to take advantage of this opportunity, a representative of the company will have to provide a notarized power of attorney from the company. After that, they will be able to open an account or get a loan upon remote biometric autentification. At present, representatives of legal entities must personally appear in the bank branch for such operations.

According to the Bank of Russia, this scheme will be introduced for businesses after a similar mechanism is implemented for individuals.