The Central Bank of the UAE (CBUAE) has announced the development of a nationwide unified electronic Know Your Customer (e-KYC) platform, following a technology partnership agreement with Norbloc AB.
The initiative is part of the Financial Infrastructure Transformation (FIT) Programme and is aimed at building a more integrated and efficient financial ecosystem in the UAE. It reflects the central bank’s continued focus on modernising regulatory frameworks and adopting advanced digital solutions across the financial sector.
The agreement was signed in the presence of H.E. Khaled Mohamed Balama, Governor of the CBUAE, and H.E. Ahmed Saeed Al Qamzi, Assistant Governor for Banking and Insurance Supervision. It was formalised by H.E. Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services, and Astyanax Kanakakis, Chief Executive Officer of Norbloc AB.
The e-KYC platform is designed to address inefficiencies caused by repeated customer due diligence processes across institutions. By introducing a unified national approach, it aims to reduce duplication, lower compliance costs, and improve the overall speed and reliability of onboarding for both individuals and businesses.
The system will support KYC and KYB processes through automated workflows and integration with trusted data sources. It is built on a privacy-by-design framework, enabling secure data sharing based on explicit customer consent while maintaining high standards of confidentiality and data protection. The platform is also aligned with anti-money laundering and counter-terrorism financing requirements.
For financial institutions and fintech companies, the platform is expected to improve access to verified data and shorten onboarding timelines. At the same time, it strengthens governance and enhances transparency across the financial system.
H.E. Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the CBUAE, said:
“The development of the e-KYC Platform represents a strategic transformation towards a more efficient and resilient financial ecosystem. 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. At the CBUAE, we aim to enhance efficiency and establish a financial environment characterised by transparency and the protection of customer privacy, in a way that reinforces the UAE’s competitiveness as a leading global financial centre.”
Astyanax Kanakakis, Chief Executive Officer of Norbloc AB, added:
“We are proud to partner with the Central Bank of the UAE in delivering this platform, which sets a new benchmark in digital compliance globally. 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. It also empowers users with full control over the management of access to their data.”
The project marks a key milestone in the UAE’s financial sector transformation. Future phases will focus on expanding the platform’s capabilities and strengthening integration with relevant stakeholders, supporting the development of a more advanced and sustainable digital financial ecosystem.
Digital Trade Outlook Analysis
A unified e-KYC infrastructure is becoming a critical layer in digital trade ecosystems. As cross-border transactions increasingly rely on trusted digital identities and seamless data exchange, platforms like this can significantly reduce friction in onboarding and compliance.
For the UAE, this move strengthens its position as a hub for digital financial infrastructure while creating a more efficient environment for banks, fintechs, and businesses operating across international trade corridors.
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