UAE Central Bank to develop an e-KYC platform.
UAE Central Bank is developing a nationwide unified eKYC platform following a technical partnership agreement with global technology firm Norbloc AB.
The platform is designed to eliminate duplication in customer due diligence processes, reduce compliance costs, and strengthen the UAE’s financial stability and competitiveness, further reinforcing its position in the global digital financial ecosystem.
It will improve the efficiency of Know Your Customer (KYC) and Know Your Business (KYB) processes through automated workflows and integration of trusted data sources. The system is also expected to enhance compliance with anti-money laundering and counter-terrorism financing (AML/CFT) standards.
Underpinned by a “privacy by design” framework, the platform will enable secure data sharing strictly based on explicit customer consent, ensuring high standards of confidentiality, data protection, and trust across the financial system.
The signing ceremony was attended by Khaled Mohamed Balama and Ahmed Saeed Al Qamzi.
It was signed by Saif Humaid Al Dhaheri and Astyanax Kanakakis.
The new system introduces a unified national framework that supports both financial institutions and fintech firms, enabling faster and more reliable digital onboarding for individuals and businesses while significantly reducing turnaround times and operational costs.
Saif Humaid Al Dhaheri said the e-KYC platform represents a strategic shift toward a more efficient and resilient financial ecosystem.
He added that the initiative will help the sector move away from resource-intensive traditional processes toward advanced digital models that speed up access to financial services and lower operational costs.
Astyanax Kanakakis said that by leveraging advanced technologies, the platform will enable financial institutions to access trusted, secure data in real time from multiple sources, improving operational efficiency while maintaining the highest international standards.
He added that it will also give users full control over how their data is accessed and managed.
