Biometry use will reduce banks’ expenses more than threefold — Central Bank

Biometry use will make it possible for banks to cut their customer service costs more than threefold, First Deputy Chairwoman of the Central Bank Olga Skorobogatova said.

"Remote identification will enable banks to reduce the customer service cost more than threefold," the official said.

The Central Bank plans to connect over 4,000 service points of credit institutions at the first phase of launching the platform for remote biometric identification of bank clients, which will end by the turn of 2018, Skorobogatova said.

"We expect over 4 thousand bank offices and service points to be connected to the platform by year-end. We will also start work this year on its use for provision of state, notarial, and other services. The figure is over 100 mln different services annually," she said.