Financial sector news

On October 28, during a panel discussion on the state of the non-bank lending market organized by the Association of Ukrainian Banks, MP Olga Vasilevska-Smaglyuk announced the expected restoration of financial companies' access to the Diya app for remote customer identification and verification.

Participants in the discussion emphasized that the return of this tool is an important step toward creating a level playing field in the market, ensuring digital security, protecting consumer rights, and combating fraud in the non-bank lending sector.
Olga Vasilevska-Smaglyuk noted that she had communicated with First Deputy Prime Minister and Minister of Digital Transformation Mykhailo Fedorov regarding the restoration of access for financial companies in the non-bank lending sector.

"In fact, Mr. Fedorov and the entire Ministry support the provision of such access... The Ministry of Digital Transformation has already implemented all security measures, and Diya has become more secure. I think that by the end of the year, there will be good news regarding the restoration of such access," said the MP.

Andriy Dubas, President of the Association of Ukrainian Banks, emphasized the importance of ensuring equal rules in the market for banks and non-bank institutions:

“We believe that the rules on the market, if it is consumer lending, for example, in banks and non-bank institutions, should be the same. If these are verification or identification tools, if they are available to users of insurance or banking services, they should also be available to other organizations, but only if they are licensed by the National Bank,” he stressed.

It is expected that restoring access to Diia will enable financial companies in the non-banking sector to provide services more securely, quickly, and transparently, reduce the risk of fraud, and improve service quality and consumer confidence.