VTB is ready to launch remote account opening, which will allow new customers to apply for digital mortgages. The Bank is developing a service using a Russian videoconferencing solution that enables employees to conduct video identification of a future borrower, protecting all participants in the transaction to the maximum. This was stated by Anatoly Pechatnikov, Deputy President and Chairman of the Management Board of VTB, at SPIEF 2023.
According to the legislation, in most cases, borrowers who have not previously been served by a bank are required to personally visit its office before conducting a mortgage transaction remotely.
Over the past three years, the housing lending market has made significant progress in terms of digitalization of key services and is fully prepared for remote transactions, notes Anatoly Pechatnikov. This is confirmed by Rosreestr data on the increase in the number of real estate transactions made using digital services.
“The regulator heard the position of market participants on the importance of “digital mortgage” for all customers without restrictions and took a number of practical steps in this direction. A draft law has already been developed and is being reviewed by the executive authorities, which will give the client the opportunity to remotely open escrow accounts,” he said.
It is planned to test the possibility of identifying customers through video conferencing as part of an experimental legal regime in the field of digital innovation. The possibility of its establishment requires amendments to the legislation, the corresponding bill is currently submitted to the State Duma for consideration.
According to Anatoly Pechatnikov, VTB’s current clients can now conduct any transaction completely remotely – when buying an apartment in a new building, on the secondary market or refinancing. VTB has repeatedly advocated the use of video conferencing to identify persons who are not bank customers, and is now developing the necessary infrastructure for this, which will be completely safe for all participants in the process, convenient for customers and in demand by the market.
Currently, remote registration of a mortgage provides for the signing of all documents in digital form with an enhanced qualified electronic signature. Registration of transactions, issuance of electronic mortgages and registration of insurance products also takes place without visiting the office of the bank, MFC or Rosreestr. The bank receives information on the borrower from government systems.
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