Abu Dhabi Islamic Bank Offers Remote Account Opening for Businesses24. May 2023
Abu Dhabi Islamic Bank (ADIB) is now offering small and medium-sized enterprises (SMEs) remote account opening services through its mobile app by deploying the Emirates Face Recognition (EFR) technology.
Real time verification of trade licenses and customer data, facial recognition, and the use of OCR and NFC technology is used to validate and capture Emirates ID and passport information.
Through this technology, ADIB can perform secure identity verification before opening a new account for businesses in less than 24 business hours without the need to visit a branch or submit physical documents or signatures.
A dedicated team has been formed to verify compliance-related items to complete the process. Following the verification, an SMS will be sent to applicants to confirm account activation.
In the initial phase, the launch will encompass only the account opening for single owners with a Dubai mainland license.
It will then be expanded to include companies based in Abu Dhabi after signing a cooperation agreement with Abu Dhabi Department of Economic Development (ADDED).
In addition to the digital account opening solution, ADIB has also introduced ADIB Direct – Online and Mobile Banking, which automates a variety of services for companies, providing significant cost and time savings.
Currently, around 90% of ADIB UAE’s online business banking transactions are fulfilled through digital channels.
Featured image credit: Edited from freepik
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