Mashreq NEO to become UAE’s first digital bank to use facial recognition for account opening

mashreq, bank, customers, facial, recognition,
UAE

Mashreq NEO to become UAE’s first digital bank to use facial recognition for account opening

Mashreq NEO, the full-service digital bank from UAE lender Mashreq Bank, announced on October 12 that it will enable residents to conveniently open a bank account using facial recognition technology. The initiative, launched in collaboration with the UAE’s Ministry of Interior, leverages the ministry’s existing facial recognition verification system, which uses technology to validate and authenticate the rightful holder of official document in real time against government databases to safeguard against fraud. This process, in turn, enables customers to open their new accounts securely. Starting from early November 2021, new customers of Mashreq NEO will be able to access banking services by scanning their Emirates ID and using their face as the primary authentication method; eliminating the need to visit a bank branch, a statement said. However, to open a Mashreq Neo account, customers can scan their Emirates ID by tapping it to their smartphones, confirm details and take a selfie. Fernando Morillo, senior executive vice president, group head of retail banking, Mashreq Bank, said: “Capitalising on the latest facial recognition technology, our customers’ identities will be verified instantly through artificial intelligence, thus providing our customers with a convenient and seamless experience without compromising on their data security. “The service

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