Emirates NBD introduces contactless identity verification to open new accounts on mobile

• Bank's new TruID digital identity verification solution leverages the power of Near-Field Communication (NFC) technology

• Customer identification information read electronically from Emirates ID and biometric passport

• Solution built as part of fintech collaboration with VisionLabs and Smart Engines

Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, became the first bank in the region to allow new customers to have their identity documents verified using contactless NFC technology when opening a bank account via its Mobile Banking App.

The bank's TruID solution uses NFC technology to read information from embedded chips in the documents and seamlessly extract data to autofill a digital account application. The customer is then prompted to take a selfie within the app to complete the process.

Emirates NBD's TruID digital identity verification solution was developed as part of the bank's collaboration with fintechs VisionLabs and Smart Engines. Apple users can have their biometric passports read using the NFC technology, while Android users can avail electronic reading of both Emirates ID and their biometric passports.

Commenting on the introduction of Emirates NBD's TruID digital identity verification solution, Suvo Sarkar, Senior Executive Vice President and Head of Retail Banking and Wealth Management said: “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.”

Commenting on the collaboration with Emirates NBD, Anton Nazarkin, International Development Director at VisionLabs B.V., 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.” 

Nikita Arlazarov, Chief Financial Officer at Smart Engines, added: “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, we have also developed a technology for Arabic character recognition in the process.”

An early mover in banking digitization and innovation, Emirates NBD's advanced digital infrastructure has enabled it to continue offering seamless banking services to customers despite COVID-19 related restrictions. 

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About Emirates NBD

Emirates NBD (DFM: Emirates NBD) is a leading Banking Group in the MENAT region. As at 30th September 2020, total assets were AED 692 Billion, (equivalent to approx. USD 188 Billion). The acquisition of DenizBank represents a significant milestone for Emirates NBD with the Bank expanding its presence to 13 countries, servicing over 14 million customers. The Bank is ranked among the top 20 in the Forbes’ list of the World’s Best Regarded Companies, securing a leading spot among global brands. 

The Bank has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry with 94% of all financial transactions and requests conducted outside of its branches. The Bank announced the creation of E20., a digital business bank for entrepreneurs and SMEs while Liv., the lifestyle digital bank for millennials continued to be the fastest growing retail proposition in the UAE. Emirates NBD was named “UAE’s Best Bank” in 2020 for a fifth consecutive year by Euromoney. In addition, Emirates NBD received the “Excellence in Leadership in the Middle East” award, introduced this year in light of the Covid-19 impact, as a recognition of its efforts in responding to the Covid-19 crisis.

The Bank has operations in the UAE, Egypt, India, Turkey, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 925 branches and 4,115 ATMs / SDMs. The Bank has a large social media following, being the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The Financial Brand for 2019. Emirates NBD is a major player in the UAE corporate segment and has strong Islamic banking, investment banking, private banking, asset management, global markets & treasury and brokerage operations.

Emirates NBD is an active participant and supporter of the UAE’s main development and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of People with Disabilities under its #TogetherLimitless platform. The Bank is recognised for the pioneering efforts in employee volunteering and corporate social responsibility by IMPACT2030, the corporate volunteering arm of the United Nations. Emirates NBD Group is a Premier Partner and the Official Banking Partner for Expo 2020 Dubai.