Dubai Islamic Bank (DIB) announced its collaboration with the UAE Ministry of Interior (MOI) at GITEX GLOBAL. The new collaboration will enable the bank to digitize its KYC journey through a new-age facial recognition service, while also offering the capability to complete validation checks for New to Bank Customers opening an account with DIB.
The new eKYC journey is enhanced by the MOI digital verification face gateway service ensuring instant, accurate and highly secure validation of identity. This latest initiative will allow new customers to open a bank account with DIB remotely and digitally through face matching verification, eliminating the need for customers to physically visit a branch for initial KYC verification and onboarding.
Commenting on the collaboration, Dr. Adnan Chilwan, Group Chief Executive Officer at DIB, said: “We are delighted to announce our new collaboration with the UAE Ministry of Interior. The initiative launched, as part of this collaboration, is aligned with DIB’s digital transformation strategy and the UAE’s vision for a truly digital economy. The use of facial recognition system is a key milestone in DIB’s journey towards becoming the most progressive Islamic financial institution in the world.”
“In line with the UAE leadership’s vision for a world-leading digital economy, we have been introducing a number of digitally intelligent banking solutions for our customers at regular intervals, a driving force behind our steady growth over the last few years. With an underlying aim to offer a more simplified, convenient and seamless banking experience for our customers, we are confident that these new and innovative solutions will help further affirm our commitment towards developing products, services, and other offerings tailored to the specific needs of our customers.”
Lt. Colonel Dr. Ahmed Saeed Al Shamsi, Head of the Artificial Intelligence Systems and Services Development Team at the General Directorate of Security Support at the Ministry of Interior, said: “We are working to expand cooperation with all national institutions working in all sectors, reflecting the vision of the UAE government to develop the work system in an integrated institutional manner based on scientific planning and investment of the best modern technologies and applications of artificial intelligence.”
He added “Now we are witnessing a sustainable cooperation with Dubai Islamic Bank, a prestigious banking institution, to benefit from the face recognition system provided by the Ministry of Interior as a digital authentication portal to enhance and facilitate banking operations within a fruitful cooperation. The main objective of this is to enhance the services provided to customers and take them to the next level.”
MOI Facial recognition project started in 2007 with a vision to develop a trusted and secure way to verify people identity remotely. In 2021 MOI digital verification face gateway service was launched and provides sophisticated secure AI-based solutions to verify identity remotely which in line with the UAE’s digital transformation policies and strategies and is considered an exceptional model around the world.
The launch of the DIB’s eKYC service is a response to its efforts and approach of becoming a Digitally Intelligent Bank, and is aligned with the bank’s commitment to enhancing the efficiency of services, accelerating digital transformation and increasing customer satisfaction.
