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In Russia, in a month and a half, the Digital Profile project for legal entities will be launched (November 11, 2022)

Within five weeks, the Ministry of Digital Development will provide businesses with the Digital Profile project. According to Finmarket, the service will allow entrepreneurs to exchange legally significant data with banks, insurance organizations, etc., to receive services remotely. This was stated by Deputy Minister Dmitry Oguryaev, answering a question about the timing of the launch of the service during the Finopolis forum.


“The first company to do this will probably go down in history,” he said, adding that there are no similar business services in the world. And in Russia, this kind of service for citizens – an extended version of a personal account on the State Services portal – has been operating since May 2020.


The intention to create a “digital profile” for legal entities became known in January 2021. The project is aimed at improving the efficiency and speed of business services, as well as simplifying the work of financial institutions with company data contained in government IT systems.


The key is credibility


Already today, a legal entity can submit many documents online with the electronic signature of the head, so the digital profile does not carry anything fundamentally new, says Stanislav Petrovsky, candidate of legal sciences, expert of the Information for All public movement. The details of the new service are not yet known, but we can expect the integration of a complex of digital public services in one interface – by analogy with a citizen’s personal account.


Of course, admits Petrovsky, the introduction of a digital profile, along with convenience, will also entail risks of fraud – if companies do not take information security measures to protect the devices from which they enter the profile. Including from video cameras that allow you to remotely peep the username and password on the screen or keyboard.


“Digital profile” is nothing more than a set of information about the subject, stored in a place that everyone trusts, explains Gleb Antipov, CEO of DC Engineering. This is a service for providing reliable data from a reliable source. Subjects can be both individuals and legal entities. But there is much more data about legal entities, so for individuals such a service has already been working since May 2020, and for legal entities it is planned to be launched at the end of 2022.


Reliability of data is the main quality that a digital profile provides. Relations between legal entities are becoming more transparent, which means it is more convenient, faster and cheaper, the expert explains. Of course, legal entities have a complex and sometimes confusing data structure, and automatic tools must be able to correctly interpret and display it. A clear prioritization of data sources within the framework of interdepartmental interaction will be required so that, say, the tax inspectorate trusts information from a digital profile operator more than its own. The risks of cyber fraud are on the rise. And all legal entities, including the smallest ones, will have to spend time and money on learning new skills to work with a digital profile.


However, Antipov draws attention, the experience of digitalization of public services in Russia has been accumulated enormously, and its results are impressive. And reducing the cost of obtaining and verifying information is what any bona fide person, individual or legal entity, really needs.


You are on the right course, comrades.


The project is positioned as a way to optimize business processes, which will speed up the procedures for starting and running a business, as well as reduce the cost of document flow.


What is it and what opportunities does it provide? Firstly, Natalya Chakir, head of the legal department at Sona Private Consulting, explains that this is a single centralized data storage system for legal entities. Secondly, this system will make it possible to quickly go through the procedure for obtaining loan financing from banks. Documents will be prepared in real time. Thirdly, it will also give advantages to the consumer: it will become easier for him to check the company with which he plans to interact (the availability of licenses, permits for certain activities, as well as the financial component, market position, etc.).


In general, a digital profile is a tool aimed at bringing a business into an open space, which implies the openness of activities for everyone: partners and competitors, the state and consumers, concludes Natalia Chakir.


Alexander Selyutin, Managing Partner of Selyutin & Partners Law Firm, is confident that, given the leverage and control of business in the country, as well as publicly available information about legal entities, the introduction of the Digital Profile for business will most likely be a positive development. .


Now it is not difficult even for an ordinary PC user to get any information about any legal entity, the lawyer notes. In this regard, he believes that the “digital profile” is being created to modernize the electronic identification systems of a legal entity and simplify the receipt of government and other services.


Here it is really quite appropriate to draw an analogy with the Gosuslugi portal, at the dawn of the creation of which the broad masses of the people considered this an interference with privacy. But now, hardly anyone can do without this service. According to the expert, the “digital profile” will eventually bring positive results to business as well.


“Digital Profile” is a good and necessary project that automates the exchange of information for companies with financial and insurance organizations, says Vadim Tkachenko, lawyer, founder and CEO of the vvCube consulting group. This will allow businesses, for example, to more quickly resolve issues with banks and insurance companies.


According to the lawyer, it is hardly worth talking about high risks of data leaks: in Russia, digitalization of this level has already been worked out – in particular, on the Gosuslug portal for individuals. Accordingly, data protection mechanisms and secure channels for their transmission have already been developed. In principle, Vadim Tkachenko believes, the launch of such a project was only a matter of time, since the authorities have a certain course towards the digitalization of significant areas, which has been actively implemented in recent years.

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