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The adoption of digital identity in bank transactions

2019-09-11T22:05:34.986Z

The Central Bank stated that banks can open customer accounts and conduct all banking transactions with them through the digital identity platform of the Federal Authority for Identity and Citizenship, thus eliminating the need for actual verification of the Emirates ID card.



The Central Bank stated that banks can open customer accounts and conduct all banking transactions with them through the digital identity platform of the Federal Authority for Identity and Citizenship, eliminating the need for actual verification of the Emirates ID card.

In a circular sent to all banks and financial institutions yesterday, the central bank said that the bank, in coordination with the UAE Banks Union, welcomed the digital transformation initiative by the Telecommunications Regulatory Authority (TRA) and in cooperation with Abu Dhabi Digital Authority (ADTA) and Dubai Smart.

"Banks and other financial institutions can use the digital identity platform for account opening procedures and transactions for individual customers and corporate representatives," he said in the circular, which was obtained by Emirates Today.

Source: emara

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