On March 14, FIC members got the opportunity to learn firsthand from the NBS on the Decision on Video Identification.

It was conveyed that the decision that came into effect on March 16 defined in detail the process of identification of the physical person via electronic communications, but that it doesn’t pertain to identification of legal representatives of legal entities. Serbia was amongst the front-runners in adopting that regulation. Only Hungary and Slovenia had similar decisions, which were not even adopted by all EU member states.  NBS said that that the solutions are cautious in order to assess the impact in practice, with the possibility to introduce more liberal solutions afterwards. FIC was informed that in view of introducing this type of identification of customers, financial institutions would have to inform NBS at least 30 days before the initiation of the service, and that all the employees responsible for the service would have to undergo training. Main info on the norms specified in the Decision was provided, namely on organizational, HR and technical requirements, conditions for providing the service and process of video identification. The presentation was organized on the initiative of the Digital and E-Commerce Committee, as this regulation will have essential impact on contracting on distance. As a reminder, in December 2018 FIC proposed to include the distance contracting in the WB TF agenda. The regulation was presented by the General Manager of the Legal Department Dejan Devic and Independent Expert Advisor at the Legal Department Natasa Katanic. The meeting attracted around 50 FIC members’ representatives including banks, law offices, insurance, leasing and telecommunication companies, and FIC Executive Director Ana Tozzi. Some potential members from financial sector also attended a meeting, after being invited to better understand some of FIC benefits.