The Central Bank of the UAE has launched a unified electronic Know Your Customer (e-KYC) platform developed in partnership with Sweden-based Norbloc AB, providing a single digital identity verification system for banks, fintech firms, and other regulated entities across the country.
The platform forms part of the regulator's Financial Infrastructure Transformation (FIT) Programme, which is aimed at modernising the UAE's financial system.
The platform allows regulated institutions to verify customer identities digitally through a centralised system, eliminating the need for customers to submit the same identification documents repeatedly to multiple providers. Institutions can access verified data only with explicit customer consent, and the system integrates trusted national data sources to automate verification workflows for both individual and corporate customers.
Operational scope and compliance benefits
In addition to individual KYC, the platform supports Know Your Business processes, designed to accelerate corporate account opening for companies, including start-ups and small businesses. The automation of identity verification is expected to reduce compliance costs for financial institutions by replacing manual document checks with standardised digital workflows, while improving accuracy in meeting anti-money laundering and counter-terrorism financing requirements.
For customers, the platform reduces the volume of documentation required and shortens waiting times when opening accounts, applying for loans, or accessing digital financial services. Privacy safeguards are built into the system, with customers retaining control over how their personal information is shared across institutions.
Furthermore, future phases of the project will expand capabilities and deepen integration with additional government and private-sector entities. The platform supports the UAE's broader objective of strengthening its position as an international financial and fintech hub through advanced regulatory infrastructure.
Talking about the move, Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the Central Bank of the UAE, said the platform represents a strategic transformation towards a more efficient financial ecosystem, accelerating access to financial services while reducing operational costs and strengthening transparency. Astyanax Kanakakis, CEO of Norbloc AB, noted that the initiative sets a new benchmark in digital compliance globally and empowers users with full control over access to their data.
