Mashreq Bank Partners With Interior Ministry to Enable Face-based Onboarding in UAE

Mashreq NEO will soon be offering face-based onboarding services in the United Arab Emirates (UAE). The utility is the result of a collaboration between Mashreq and the UAE Ministry of the Interior (MOI), and leverages the Ministry’s existing biometric identity infrastructure.

Thanks to the new arrangement, prospective Mashreq NEO customers will be able to open an account with a smartphone and an Emirates ID card. Once they have downloaded the necessary app, they will be able to use their phone to scan their Emirates ID, and will then need to take selfie to prove that they are indeed the person depicted on the document. The biometric match is carried out using facial recognition technology from the Ministry of the Interior.

The biometric onboarding service is expected to go live in early November. The entire process can be completed in as little as three minutes, and will allow UAE residents to open a full account without ever setting foot in a physical branch location. Mashreq NEO is a digital banking operation, and will exist as a subsidiary of Mashreq Bank itself.

The project, meanwhile, reflects the UAE’s recent interest in digital identity technologies. The country’s Federal Authority for Identity and Citizenship now offers UAE Pass digital IDs that allow people to use their faces to access various government services, while the Abu Dhabi Islamic Bank partnered with the MOI to offer face-based onboarding in September.

“We are keen to develop our relations with all national institutions to benefit from modern technologies and the distinguished infrastructure of the UAE Government,” said the MOI’s Lt. Colonel Ahmed Saeed Al Shamsi. “This aims to enhance the quality of life of the Emirati community by providing modern and updated services that meet the needs of customers.”

“The solution builds on the UAE’s leading digital agenda, and at Mashreq, we see biometric technologies such as this playing a larger role going forward, as customers look for safe but convenient ways to conduct their financial transactions,” added Mashreq Retail Banking head and Senior Executive VP Fernando Morillo.

The UAE started linking facial biometrics to the UAE Pass IDs back in April. Lleida.net would become the first approved UAE Pass Service Provider later that same month.

Sources: GDN Online, Gulf News

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October 15, 2021 – by Eric Weiss

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