Al Masraf connects to the norbloc Fides eKYC platform

Al Masraf connects to the norbloc Fides eKYC platform

- Customers will benefit from faster onboarding and automated KYC renewals

- The network is powered by Fides, an eKYC solution developed by Swedish fintech company, norbloc, an alumna from the DIFC Fintech Hive 2017 cohort

Dubai, UAE: Al Masraf has announced the launch of a project that will see it connecting to the norbloc Fides platform, a blockchain-based solution that allows for the secure sharing of eKYC data. The network, which has been live since 2020, connects licensing authorities, free zones and financial institutions across the emirates in an ecosystem, where a single version of each customer KYC file is maintained and shared, ensuring that financial institutions always have access to the latest and most up-to-date KYC data.

“Al Masraf is committed to provide best-in-class service to our customers and that means being at the forefront of digitization and making use of the latest technologies that will enable a superior customer service without compromising on data quality, security and regulatory compliance” said Graham FitzGerald, CEO Al Masraf. “Becoming part of the Fides ecosystem allows us to obtain all of these objectives, as well as join other leading financial institutions in making use of this innovative technology. It is an important step with