The Central Bank of the UAE (CBUAE) has developed a nationwide unified electronic Know Your Customer (e-KYC) platform, following the signing of a strategic technical partnership with global technology company, Norbloc AB.
The agreement forms a key component of the Financial Infrastructure Transformation (FIT) Program, which aims to build an integrated and technology-driven financial system that improves operational efficiency, strengthens compliance, and reduces duplication in customer due diligence processes.
The platform is also expected to lower compliance costs while improving financial sector competitiveness and stability.
The agreement was formally signed by HE Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services, and Mr. Astyanax Kanakakis, Chief Executive Officer of Norbloc AB.
The signing ceremony was attended by senior officials, including HE Khaled Mohamed Balama, Governor of the Central Bank of the UAE, and HE Ahmed Saeed Al Qamzi, Assistant Governor for Banking and Insurance Supervision.
Unified digital onboarding
The new e-KYC platform will streamline Know Your Customer (KYC) and Know Your Business (KYB) processes through automated workflows and integration with trusted data sources.
It is designed to strengthen compliance with anti-money laundering and counter-terrorism financing (AML/CFT) frameworks while ensuring secure, consent-based data sharing through privacy-by-design architecture.
The platform will enable financial institutions and fintech companies to deliver faster, more reliable digital onboarding for individuals and businesses.
By reducing manual processes and duplication, it is expected to significantly cut turnaround times and operational costs across the financial sector.
The initiative represents a key step in the UAE’s digital transformation strategy for the financial sector. Future phases will expand platform capabilities and deepen integration with relevant stakeholders, further supporting the development of a secure, efficient, and sustainable digital financial ecosystem.
The Central Bank emphasized that the platform reflects its commitment to leveraging advanced technologies to enhance governance, improve customer-centric services, and support ease of doing business, reinforcing the UAE’s position as a global hub for financial innovation.
HE Saif Humaid Al Dhaheri Assistant Governor for Banking Operations and Support Services CBUAE
“The development of the e-KYC platform represents a strategic transformation towards a more efficient and resilient financial ecosystem. Through this platform, we are enabling the sector to move away from resource‑intensive traditional processes towards progressive digital models that accelerate access to financial services and reduce operational costs. At the CBUAE, we aim to enhance efficiency and establish a financial environment characterized by transparency and the protection of customer privacy in a way that reinforces the UAE’s competitiveness as a leading global financial center.”
Astyanax Kanakakis, Chief Executive Officer of Norbloc AB, stated that, “We are proud to partner with the Central Bank of the UAE in delivering this platform, which sets a new benchmark in digital compliance globally. By leveraging advanced technologies, we will enable financial institutions to access trusted and secure data in real time from multiple sources, enhancing operational efficiency while adhering to the highest international standards. It also empowers users with full control over the management of access to their data.”
