‘Eldik Bank’ in anticipation of the launch of digital credit solutions in parallel for its customers and for the first time in the country's market has implemented a social digital service ‘Self-lock on credit’. This unique for the banking industry of Kyrgyzstan online mechanism is aimed at protecting customers from fraudulent actions when taking loans and credits. The piloting of a new for the domestic market smart service and the launch of a large-scale project on cyber protection of clients El.Kalkan was announced at a press briefing with the participation of the Union of Banks of Kyrgyzstan.
 

Digital ‘self-loan’ is a citizen's voluntary refusal to apply for a loan or credit. It can be issued in one click in the new mobile application of Eldik Bank. To do this, customers need to go to ‘Settings’, in the ‘Privacy’ section, activate the lock on the online loan.
 

‘Digital services are not only benefits and conveniences, they are also challenges, particularly related to cyber security,- said Ulanbek Nogaev Chairman of the Board of Eldik Bank at the press briefing. -With the launch of specific digital solutions, we plan to join forces with our clients and the banking sector as a whole, if we find the support of our market partners, to confront digital challenges. We believe that, with the methods of fraud becoming more sophisticated, it is not enough to shift responsibility to the vigilance of customers in the format of information alerts. We urge the banking sector and market partners to join efforts for self-regulation, data exchange through the ‘self-prohibition’ mechanism and other concrete joint actions to increase citizens‘ trust in the sector and reduce fraudulent activities’.
 

At the moment, the 1.0 version of the ‘Self-Prohibition’ service has been implemented with the possibility for a client to put a ban on applying for a loan in his/her name. In the future, the possibility of implementing self-banning for family members and for data exchange with other banks according to open standards to improve the efficiency of the risk management system is being developed.
 

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