The Central Bank of the UAE (CBUAE), the country’s primary financial regulatory authority, has announced the creation of a nationwide unified electronic Know Your Customer (e-KYC) platform, with Swedish technology firm Norbloc AB named as its technical partner.
The initiative forms a central component of the CBUAE’s Financial Infrastructure Transformation (FIT) Programme, which seeks to build a more integrated financial ecosystem. The platform is designed to eliminate the duplication of customer due diligence processes, lower compliance costs and bolster the UAE’s standing in global digital finance.
The technical partnership agreement was formalised at a signing ceremony attended by CBUAE governor H.E. Khaled Mohamed Balama and assistant governor for banking and insurance supervision H.E. Ahmed Saeed Al Qamzi. The agreement itself was signed by CBUAE assistant governor for banking operations and support services H.E. Saif Humaid Al Dhaheri and Norbloc AB chief executive officer Astyanax Kanakakis, alongside senior representatives from both organisations.
The platform will modernise Know Your Customer and Know Your Business (KYC/KYB) procedures by automating workflows and drawing on verified data sources, in turn reinforcing compliance with anti-money laundering and counter-terrorism financing (AML/CFT) requirements. Built on a privacy-by-design framework, the system enables secure data exchange based solely on explicit customer consent, aiming to uphold strict standards of data protection across the financial sector. It is expected to deliver faster digital onboarding for both individuals and businesses, while cutting turnaround times and operational costs for financial institutions and FinTech companies alike.
The CBUAE describes the project as a significant milestone in the digital transformation of the UAE’s financial sector. Future development phases are planned to expand the platform’s functionality and broaden its integration with relevant stakeholders, with the goal of supporting a sustainable digital financial ecosystem. The initiative reflects the regulator’s broader ambition to use advanced technology to improve governance, promote customer-centric services and strengthen the UAE’s reputation as a hub for digital regulatory innovation.
CBUAE assistant governor for banking operations and support services H.E. Saif Humaid Al Dhaheri 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.”
Norbloc AB chief executive officer Astyanax Kanakakis said: “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.”
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