From now on, entrepreneurs can open accounts with Oschadbank without visiting a branch

Oschadbank has introduced a new functionality that allows individual entrepreneurs to open a current account remotely and quickly through the Oschadbusiness portal using remote identification via the Diia app.

The account is opened in a few minutes. To do this, you need to

• be verified in the OschadBusiness system and in Diia using a QR code;
• after automatically downloading data from the Unified State Register, select a branch for servicing, additional services, etc.;
• sign the documents using an electronic signature (QES), after which they will be sent to the bank.

The project is being implemented by Fintech Pro, a developer of integrated FinTech products for banks in Ukraine and abroad. The new functionality was implemented by Oschadbank to further digitalize the bank's services to simplify access to financial instruments for MSMEs. In the month since the service was launched in test mode, Oschadbank has received more than 1,000 applications and opened about 400 online accounts.

"Doing business in a time of war due to complicated logistics requires even more flexibility, and banks need to maximize the digitalization of services and products. The introduction of the new functionality is another step towards the latest technologies and remote services, which will increase the comfort of cooperation with Oschad for entrepreneurs who want to develop. We already see a great demand for this service from businesses, so the next step is to introduce remote opening of current accounts for legal entities," said Natalia Butkova-Vitvitska, Oschadbank Management Board Member in charge of MSME business.

Oschadbank's MSME clients can submit an online loan application and receive a preliminary decision using the Oschadbusiness service within 24 hours. Last year, the number of incoming loan applications increased by 20% thanks to this solution.