Source: Central Bank of the Russian Federation in English
29 December 2020
The forms of licences, certificates and other authorisation documents (confirming a company’s right to provide financial services) issued by the Bank of Russia, will now bear QR codes.
This will make it more convenient for customers to get information about financial market participants. The innovation concerns authorisation documents of both credit institutions and non-bank financial institutions.
QR codes contain a link to the Bank of Russia website page with information on all valid licences of financial institutions entitling them to operate in the financial market. This is a next step in developing the Check Financial Institution service offered by the Bank of Russia website and allowing an unambiguous identification of a financial market participant.
Moreover, the Bank of Russia has placed QR сodes on the scanned copies of earlier issued credit institutions’ licences which are available on the Bank of Russia website for all credit institutions. The regulator recommends that banks place copies of their licences bearing QR codes in customer servicing points, thereby enabling customers to quickly receive the fullest possible information about the legal capacity of a credit institution and the whole range of their financial services.
Preview photo: Koonsiri Boonnak / Shutterstock / Fotodom