Russian microfinance companies are seeking permission from the Bank of Russia to process online loan applications using facial recognition alone, removing mandatory voice identification requirements.
The National Council of the Financial Market, known as the NSFR, submitted the proposal to establish the temporary procedure until October 1, 2026, according to a report by RBC.
The Bank of Russia confirmed receiving the document and stated that it will examine the proposal.
Microfinance organisations in Russia provide small, short-term personal loans outside the traditional commercial banking sector. The Central Bank of Russia acts as the nation's primary financial regulator, overseeing credit institutions and consumer lending rules across the country.
Although SRO MiR, an industry body representing microfinance lenders, stated it has not seen the letter, the association described the core proposal as justified.
Lack of voice biometric data
The NSFR highlighted a severe shortage of voice samples registered in Russia's Unified Biometric System. The state-managed platform stores digital identity records to enable remote verification for financial and public services.
Official data showed that out of 92.1 million people registered in the biometric system as of July 20, voice biometric data was available for only about 9.9 million records.
Among the 35.7 million biometric records with the security tier required for online loan approvals, only 6.8 million individuals possessed complete profiles containing both facial and voice data.
Mandatory biometric identification currently applies to larger microfinance companies, known as MFCs, and is scheduled to expand to smaller microcredit companies, or MCCs, in March 2027. Industry estimates suggest implementing mandatory biometrics could cost microfinance organisations up to 60 million rubles.
However, market participants remain unprepared for the rules. By the end of March, no active MFC had successfully connected to the national biometric database. Several large lenders chose to change their legal status to MCCs to delay mandatory connection by a year.
Technical hurdles and deepfake risks
Representatives of the NSFR stated that voice verification creates significant operational hurdles for borrowers. Collecting high-quality audio requires quiet environments, as background noise, poor microphone quality, and weak connections frequently disrupt verification.
Data from one council member revealed that voice checks can consume up to 86 percent of the total time required for biometric authentication.
Lenders also raised concerns about AI-generated voice clones. The council noted that modern voice synthesis technology can create convincing replicas from audio clips lasting just a few seconds, making fake speech harder to detect than verifying physical facial liveness.
As a result, the council proposed removing mandatory voice checks when lenders employ alternative identity checks alongside facial recognition.
Lenders including Alfa-Dengi, Moneyman, and Zaimer supported the proposal, stating that face-only verification would accelerate small loan processing and prevent borrowers from failing registration. Experts added that lenders could supplement facial recognition by checking user devices, SIM cards, phone numbers, IP addresses, geolocation, user behavior, and transaction histories.
