One of the largest banking groups in the Middle East, Emirates NBD has become the first bank in the region to enable new clients to have their identity documents verified using contactless Near-Field-Communication (NFC) technology when opening a bank account through its Mobile Banking App.
The bank’s TruID solution uses NFC technology to read information from embedded chips in the documents and effortlessly collect data to auto-fill a digital account application. After filling out the application, the client is asked to take a selfie to complete the process within the app.
Emirates NBD’s TruID digital identity verification solution was developed as part of the bank’s alliance with fintech companies VisionLabs and Smart Engines. Using NFC technology, Apple users can have their biometric passports read, while Android users can avail electronic reading of both their Emirates ID and their biometric passports.
“As a front-runner in digital banking innovation, Emirates NBD continues to leverage technology to deliver superior customer experiences. Our mobile account opening service is being increasingly used by customers to open a new account instantly from their smartphones and this new verification solution ensures a more secure and robust process.”
Anton Nazarkin, International Development Director at VisionLabs said, “I am proud that VisionLabs has become a part of the bank’s technology stack and would like to thank Emirates NBD team for their efforts in creating this next generation banking solution with us. I am sure that the positive experience with our KYC solution will enable further expansion of services based on biometrics in the bank for its customers and employees.”
“Entering the Middle East market with Emirates NBD is an important milestone for us and I thank them for their trust in us. Not only were we able to support and fine-tune data extraction for region-specific ID types, but we have also developed a technology for Arabic character recognition in the process,” commented Nikita Arlazarov, Chief Financial Officer at Smart Engines.