The Ministry of Finance announced the timing of the introduction of measures similar to the authentication of borrowers through the EBS

Discussion of an alternative to authenticating all borrowers through a Single Biometric System (EBS) when issuing online loans is possible only after analyzing the mechanism. This was reported to Izvestia on November 27 by the press service of the Ministry of Finance of the Russian Federation.

Starting in March 2026, only those Russians who have confirmed their biometrics will be able to receive online loans. The Central Bank of the Russian Federation considered the new requirements to be a difficult change for the market. The regulator proposed amendments to the law that would enable microfinance organizations to use commercial biometric systems for authentication, as well as ID banking services.

"It is advisable to consider the possibility of adding other methods of authentication using biometrics after gaining practical experience and analyzing the work of the already established mechanism through the EBS," the Ministry of Finance emphasized.

In turn, Sergey Vesshchuk, CEO of Eqvanta Group, said that there are very few customers using biometrics.

"I would like to see an opportunity in the law not to undergo biometrics every time a loan is received. If the data is already in the client's personal account, and it has not changed, then a re-evaluation may be necessary only after the data has been changed. At the same time, biometrics is an expensive story that requires high investments," he said.

Vesovshchuk clarified that 90% of the market operates online, and if there are no ways to make biometrics cheaper, everything will return offline and there will be a turnaround in digitalization.

Andrey Ponomarev, CEO of the online financial platform WEBBANKIR, added that many borrowers are afraid to submit biometrics due to concern for the safety of their personal data. At the same time, the majority of them, in his opinion, will prefer to move "in step with the times."

"Biometrics will enhance the security of financial transactions. Today, the government and business are doing a lot to instill confidence in new technologies," Ponomarev stressed.

Earlier that day, experts told Izvestia that about 2.2 million current clients of microfinance organizations (MFOs) may leave for illegal creditors due to new requirements. The thing is that from March 2026, only Russians who have confirmed their biometrics will be able to receive online loans. At the same time, many use microloans sporadically and are not ready to undergo additional identification procedures.

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