Dubai Economy and HSBC support “know your customer”
Dubai Economy and HSBC Bank have strengthened the “know your customer” customer data exchange platform alliance based on Blockchain technologies in the UAE, as HSBC became the fourth founding member bank in the platform alliance.
The Dubai Economy had launched this initiative in February of 2020, in partnership with the founding member banks, where the “know your customer” platform contributes to facilitating faster, safer and streamlined data transfer and exchange for customers using digital services, and allows the sharing of verified data between Licensing authorities and financial institutions through advanced technologies.
The initiative is also supported by Norblock, a global leader in blockchain technologies that allow the sharing of structured data.
Omar Al Muhairi, Director of the Development and Follow-up Department in the Commercial Registration and Licensing Sector at Dubai Economy, said: “In Dubai Economy, we are pleased with the presence of HSBC directly on the (Know Your Customer) customer data exchange platform based on (Blockchain) in the UAE. Which will give investors an additional option to open a digital bank account with this distinguished bank.”
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