Non-Bank Financial Institutions Can Now Connect to 'Diia' Services for Client Verification

Non-bank financial institutions in Ukraine now have the opportunity to connect to the services of the popular application 'Diia' for the identification and verification of their clients during the lending process. This important news was announced by Alexander Kholod, director of 'Consumer Center' LLC, known under the brand 'ShvydkoHroshi'. He emphasized that this is no longer just a future plan but a real outcome, as the service is already operational.

During a meeting of the consumer credit market union council held on Tuesday, Kholod noted that there are already successful examples in the market of connections to these new services. Specifically, the new mechanism involves the use of multi-sharing, which allows the client to confirm their consent to transfer documents to the lending company directly through the 'Diia' application. This significantly simplifies the process of assessing creditworthiness.

Access to data from state registers provided by the 'Diia' application allows for a substantial improvement in the quality of client identification and verification. This is crucial, as information obtained directly from clients may be incomplete, contain errors, be outdated, or even generated by artificial intelligence. Thanks to the new capabilities, financial institutions will be able to obtain more accurate data about their clients, which, in turn, will enhance the security and reliability of financial services.

To connect to the 'Diia' services, companies must be licensed, undergo thorough verification, complete application forms, and pass authorization. As Alexander Kholod pointed out, for 'Consumer Center' LLC, this process took up to a month. This indicates a serious approach to ensuring data security and compliance with all requirements.

In the future, one of the next steps may be the integration of the service with obtaining information about the status of military personnel and veterans. This will allow for the correct application of benefits and the recalculation of interest rates on loans for these categories of citizens. This issue is currently being actively worked on in collaboration with representatives of the Verkhovna Rada and the Ministry of Digital Transformation.

Alexander Kholod also expressed confidence that over time, connecting to the 'Diia' services will become a common practice for financial companies, similar to the use of BankID. Access to data from state registers, in his opinion, will significantly contribute to enhancing the security and quality of financial services, which, in turn, will positively impact the entire financial ecosystem of Ukraine.