The Central Bank of the UAE (CBUAE) has announced the development of a nationwide unified electronic Know Your Customer (e-KYC) platform in partnership with Swedish technology firm Norbloc.
The initiative forms part of the Financial Infrastructure Transformation (FIT) Programme, which aims to create a more integrated financial ecosystem and improve operational efficiency across the sector.
The platform aims to reduce duplication in customer due diligence processes, lower compliance costs, and streamline Know Your Customer (KYC) and Know Your Business (KYB) procedures.
It will use automated workflows and integrated trusted data sources to support compliance with anti-money laundering and countering the financing of terrorism (AML/CFT) requirements.
Designed with a privacy-by-design approach, the system will enable data sharing based on explicit customer consent, with the aim of maintaining confidentiality and data protection standards while improving onboarding processes for individuals and businesses.
It also reduces turnaround times and operational costs for financial institutions and fintech firms.
The CBUAE said the platform is part of its broader efforts to modernise regulatory and financial infrastructure and support digital transformation in the sector.
Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the CBUAE, said:

“Through this platform, we are enabling the sector to move away from resource-intensive traditional processes towards progressive digital models that accelerate access to financial services and reduce operational costs.”
Norbloc Chief Executive Officer, Astyanax Kanakakis, said:

“By leveraging advanced technologies, we will enable financial institutions to access trusted and secure data in real time from multiple sources, enhancing operational efficiency while adhering to the highest international standards.”
Featured image credit: CBUAE press release

