Russia Plans National Biometric Database Starting Next Year
- Upper house of parliament approves law allowing system
- Russian state-owned firms lead push for biometric technology
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Russia will get a country-wide biometric database for financial services starting next summer, the central bank said.
The system will expand access to banking by letting people open accounts without having to visit a branch and is a key milestone in digitizing financial services, the Bank of Russia said in a statement. The regulator said that data would only be stored with individuals’ consent. Legal changes needed for the system passed this month.