The Central Bank made a proposal to transfer anonymized data to the business, the personal data of users about their credit history.

As part of the financial market digitalization project for 2022-2024, the Bank of Russia, together with the government, propose to supplement the Law on Personal Data with provisions that will allow the use of impersonal data on the credit history of banks' customers to improve the performance of digital technologies, the quality of analytics and optimize business processes ...

The Central Bank also proposes to use anonymous data, or "microdata" - as they call it in the regulator, Russians for such analytical purposes as creating a marketing strategy and assessing the credit burden of borrowers.

In addition, the regulator proposes to consolidate in the law the concepts of "anonymized data" and "impersonal credit history", since these concepts, according to the text of the Central Bank's bill, are not effectively regulated. The law makes it possible to transfer anonymized data only for statistical and research purposes, being the main source for the development of innovative products in the financial market.

As a reminder, in 2019 Yandex teamed up with major credit history bureaus to assess the solvency of borrowers. Then a situation arose when Yandex and the United Credit Bureau could not immediately compare the results of individual calculations, since the client's consent to the processing of personal data was required to obtain a joint assessment.

After a while, Yandex representatives announced that they would not develop this line of business. According to the company, the transfer of anonymized data to banks did not correspond to Yandex's “social responsibility and technological effectiveness”.

bbabo.Net