Introduction to the BankID system for individual entrepreneurs
The National Bank of Ukraine has opened access for individual entrepreneurs to the BankID system for business, effective from January 10, 2026. This decision will allow individual entrepreneurs to carry out digital identification more easily, positively impacting their commercial activities.
The BankID system has already been legalized for commercial activities, which means that entrepreneurs will be able to use it for identification when interacting with financial institutions and other partners. State universities and public educational institutions will also have the opportunity to use this system for free, extending its application in the educational sector.
Security and requirements for banks
An important aspect of the innovation is that identifying banks are required to implement dynamic multi-factor authentication, which will enhance the security level during the identification process. Furthermore, financial institutions must implement an information security management system according to the ISO/IEC 27001:2022 standard. Banks have been given until June 30, 2026, to adapt to these new requirements.
Thus, opening access to the BankID system for individual entrepreneurs will be an important step in the development of digital services for business in Ukraine.
The introduction of the BankID system for individual entrepreneurs can significantly simplify the identification processes and interactions with financial institutions, which, in turn, can positively impact the development of small and medium-sized businesses in Ukraine. The increase in security through dynamic multi-factor authentication also indicates the government's intentions to improve data protection and reduce fraud risks in the financial system.