Russian Banks Allowed to Sign Contracts with Customers via Video Link

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Russian banks may soon be allowed to enter into contracts via video calls without requiring customers to visit a branch in person, according to sources familiar with the initiative cited by Vedomosti.

The Central Bank of Russia is currently developing an experimental legal framework for this measure, which is undergoing approval from relevant government bodies, including the Federal Security Service (FSB), the Federal Financial Monitoring Service (Rosfinmonitoring), the Ministry of Finance, and the Ministry of Digital Development.

It is expected that the experimental regime will be approved in the first half of 2026, with a pilot project to be launched by the end of the year.

Once implemented, the pilot will simplify and speed up account opening and banking product application processes, particularly benefiting residents of remote areas. Customers will need to undergo real-time verification through a secure video channel to authenticate and sign documents. Notably, banks will only be able to use domestic video conferencing systems that meet security and data protection requirements for online contract signing.