National Bank of Bahrain joins local eKYC platform

Friday 12 July 2019 09:53 CET | News

The National Bank of Bahrain has joined the National eKYC (Know Your Customer) platform mandated by the Central Bank of Bahrain (CBB).

NBB was the first bank in the Kingdom to join the platform, which will be used by all financial institutions to simplify client onboarding and KYC maintenance requirements electronically.

The eKYC platform is a cloud-based/blockchain hybrid solution that provides financial institutions with the ability to retrieve and process client KYC and other data from the related bodies including Bahrain’s Information & eGovernment Authority (IGA) and will also include international screening without the need for a physical presence, document verification or authentication.

NBB has been successfully transacting on the platform since it went live on 30 April 2019.

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Keywords: KYC, onboarding, cloud, blockchain, Bahrain, eKYC, financial services, National Bank of Bahrain
Countries: World