UAE Business: DIB, MoI to implement a complete digital KYC journey – Gulf Digital News

UAE Business: DIB, MoI to implement a complete digital KYC journey – Gulf Digital News

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, is collaborating with the UAE Ministry of Interior (MoI) to enable the bank to digitise its KYC journey through a new-age facial recognition service.

The bank will also offer its New to Bank Customers the capability to complete validation checks for opening an account with DIB.

The new eKYC journey is enhanced by the MoI digital verification face gateway service ensuring instant, accurate and highly secure validation of identity.

Opening bank account remotely

This will allow new customers to open a bank account with DIB, the second-largest Islamic bank in the world, remotely and digitally through face matching verification, eliminating the need for customers to physically visit a branch for initial KYC verification and onboarding.

Commenting on the collaboration, Dr Adnan Chilwan, Group Chief Executive Officer at DIB, said: “The initiative is aligned with DIB’s digital transformation strategy and the UAE’s vision for a truly digital economy. The use of facial recognition system is a key milestone in DIB’s journey towards becoming the most progressive Islamic financial institution in the world.”

“In line with the UAE leadership’s vision for a world-leading digital economy, we have been introducing a number of digitally intelligent banking solutions for