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- Impersonal business: MFIs have found a way to issue online loans without biometrics for another year
Impersonal business: MFIs have found a way to issue online loans without biometrics for another year
Since the beginning of the year, 13 microfinance companies have changed their status to micro-credit, according to the Central Bank's data, which was analyzed by Izvestia. This is how market participants legally move away from mandatory biometrics. Starting from March 1, 2026, microfinance organizations must check clients "by face" when issuing online loans, and microcredit organizations have received a deferral until March 1, 2027. However, as early as next year, the new measure may provoke a flow of borrowers to black lenders. Izvestia found out how the introduction of mandatory biometrics for MFIs will turn out and how not to get into the risk zone.
Why should a company change its status
Since the beginning of the year, microfinance companies (IFC) have begun to massively change their status. From January to April 23, 12 of them became micro-credit companies (MCCS), the press service of the Bank of Russia told Izvestia. By May 5, another organization had passed this way. Currently, there are only 26 MFCs left in the registry, according to the Central Bank.
The regulator explained that this trend is partly due to the fact that since the beginning of March 2026, IFC has been required to check customers using biometrics before issuing loans online. For the ICC, the new rules will come into force only in the spring of 2027.
Loans in MFIs with different statuses do not differ in any way in terms of protecting the rights of customers — neither at the rate nor under other conditions, the press service of the Bank of Russia added. The only difference for borrowers is the maximum loan amount.
MCCS can issue no more than 500 thousand rubles, and IFC — a maximum of 1 million, said Ekaterina Kazak, CEO of Cyberbird Fintech Group. According to her, in practice, the changes taking place in the market can lead to a shift towards short-term loans. You should not expect a rise in the cost of loans: the rate is determined by the customer's category and credit history, not the status of the company.
Another difference between these structures is in the possibilities of attracting investments, the MIR SRO added. IFC cannot issue bonds, but IFC has the right to place such securities. The self—regulatory organization believes that some companies have temporarily changed their status until the database of the Unified Biometric System (UBS) is replenished to the required volume in order to avoid rejecting customers due to the lack of biometrics.
The Unified biometric system is a government platform that stores citizens' data, usually a photo of a face and a voice recording. The system is used for remote identification of clients without a personal visit to the office. You can submit biometrics at bank branches.
It is noteworthy that almost all players with the status of a microfinance company have already launched or had MCC structures for which the deferral is valid until March 2027, said Artem Bykov, CEO of Moneyman. Therefore, mass fragmentation of organizations in order to circumvent the new rules is not expected.
In fact, MFIs have found a legitimate way to delay the introduction of mandatory face checks for Russians. For almost another year, customers will be able to apply for loans online in the MCC without biometrics.
Why Customers may Start Switching to Illegal Lenders
The low level of the EBS creates serious risks for the market, Ekaterina Kazak warned. In order for the mechanism to work fully, the system should have 60-70 million biometric profiles, she believes. Without significant replenishment of the base, there is a high probability of people moving into the gray segment.
For borrowers who do not want to submit biometrics, illegal lenders will be an alternative, Artem Bykov agreed. There, the interaction is beyond the legal framework. As a result, the client may lose money in an amount not comparable to the loan amount due to huge interest and loss of property. The partners of such creditors are often collectors with illegal collection methods, the expert noted.
The risks of an increase in illegal lending are present, the Central Bank acknowledged. The regulator cooperates with the Ministry of Internal Affairs to minimize them. Izvestia sent a request to the ministry.
The danger of a flow to illegal immigrants also worries the market, the MIR SRO confirmed. Having been refused an MFI, a person will not stop needing money — he will go to illegal immigrants. Therefore, the delivery of biometrics should be made as simple and understandable as possible, according to the organization.
Due to the new requirements for illegal creditors, about 2.2 million current clients of microfinance organizations may leave, Izvestia previously wrote.
According to the Bank of Russia, 36% more illegal creditors were identified in the first quarter of 2026 than in the same period of 2025. These are mainly online resources, and the regulator has sent applications to block more than 1,300 such portals. Offline, "black" lenders most often operate as pseudo pawn shops and thrift stores, the Central Bank said.
Experts advise to avoid contacting such organizations by all means. The borrower can submit biometrics in advance so as not to be left without access to legal micro-loans.
According to Vladislav Svjatik, Deputy Director General of the Center for Biometric Technologies, about 50 million Russian citizens can upgrade their biometrics to standard in a couple of minutes. To do this, download the application "Gosuslugi Biometria", log in using the login and password from Gosuslugi and register simplified biometrics: take a selfie and record your voice. The data will be verified and, if there is a unique ESIA number, the biometrics level will be automatically upgraded to standard, so services in the MFI will become available, the organization noted.
If the MFO refuses to issue due to the lack of biometrics, it is worth checking the possibility of obtaining a loan from the MCC or considering alternative sources - for example, loans from banks, or borrowing from relatives. Without biometrics, a loan from an MFI can also be taken in person.
The Central Bank, in turn, recommends that citizens check the company's status in the regulator's register and not use the services of organizations that are not on this list. In case of violation of rights, borrowers can contact the Bank of Russia or law enforcement agencies.
How will mandatory biometrics affect the MFI market
The process of re-registration of companies will continue, but not all organizations will be affected, Ekaterina Kazak believes. Major players from IFC will remain on the market, and the IFC segment will expand, she noted. This will accelerate the consolidation of the microfinance market: the positions of large groups will strengthen, less stable companies may leave or be absorbed. However, the real picture will be seen after March 2027.
If the fullness of the EBS increases many times, and organizations integrate the infrastructure for biometrics, the entire system will be able to work without drastic changes, the expert concluded.
Time will tell which way the market will choose after the alignment of requirements for IFC and MCC, the Central Bank noted. Companies can start changing their status back when the requirements become the same for everyone in 2027. The MIR SRO recalled that there are already examples of loans using biometrics, which allows us to hope for a positive scenario with a close dialogue between the Central Bank, the Ministry of Finance and the market.
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