The Central Bank of the UAE has announced the development of a nationwide unified e-KYC platform aimed at streamlining customer verification across the financial sector.
The initiative follows a technical partnership agreement with global technology company Norbloc AB and marks a significant step in the country’s financial digital transformation agenda.
The platform forms a core component of the Central Bank’s Financial Infrastructure Transformation programme, which is designed to build a more integrated and efficient financial ecosystem. It is expected to modernise regulatory processes, reduce duplication in customer due diligence, and strengthen the UAE’s competitiveness in global financial services.
Officials said the system will enhance both Know Your Customer and Know Your Business processes by introducing automated workflows and integrating trusted data sources. This will improve compliance with anti money laundering and counter terrorism financing frameworks while reducing operational costs for financial institutions.
The agreement was signed by senior representatives from both organisations, including Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the Central Bank of the UAE, and Astyanax Kanakakis, Chief Executive Officer of Norbloc AB. The signing was witnessed by Central Bank Governor Khaled Mohamed Balama and other senior officials.
The platform is built on privacy by design principles, enabling secure data sharing based strictly on customer consent. It is intended to improve onboarding speed for individuals and businesses while maintaining high standards of data protection and confidentiality.
Officials said the initiative introduces a unified national framework for financial institutions and fintech companies, reducing onboarding times and improving service efficiency. Future phases will expand functionality and deepen integration across the financial ecosystem.
Saif Humaid Al Dhaheri described the platform as a shift toward a more efficient and resilient financial system, moving away from traditional manual processes toward digital models that enhance access and reduce costs. Norbloc’s CEO highlighted the platform’s ability to provide secure real time access to verified data while maintaining user control over personal information.
News Source: Emirates News Agency
