Emirates NBD has planned to roll out contactless identity verification to open new accounts on mobile through contactless NFC technology, media reports said. Furthermore, the customers can use the new facility when opening a banking account through mobile banking application.
Suvo Sarkar, senior executive vice president and head of retail banking and wealth management, Emirates NBD, told the media, “As a front-runner in digital banking innovation, Emirates NBD continues to leverage technology to deliver superior customer experiences. Our mobile account opening service is being increasingly used by customers to open a new account instantly from their smartphones and this new verification solution ensures a more secure and robust process.”
The new banking NFC -based solution is known as the TruID solution and reads information through embedded chips in the documents and combines data to autofill a digital account application seamlessly. The customers will have to take a selfie to complete the application process.
The solution is a part of the banks’ partnership with fintechs VisionLabs and Smart Engines. The solution will assist Apple users to read their biometric passports through the NFC technology, while the solution will allow the Android users to electronically read the both biometric passport and Emirates ID.
Nikita Arlazarov, Chief Financial Officer at Smart Engines, said that entering the Middle Eastern Market through NBD is not only a vital step for the company to support and fine tune data extraction for region-specific ID types, but also introduce a Arabic character recognition technology.