The Emirates Identity Authority is the government agency, which manages the national biometric ID database in UAE for real-time and instant customer identification (eKYC or Electronic Know Your Customer).
By employing eKYC technology in the UAE market, Mint is aligning their strategy with the Government’s push for financial transparency, thus ensuring compliance with regulatory requirements and reducing the possibility of fraud. Mint’s technology offers a secure, scalable solution that enables real-time validation of biometrics and Emirates ID to identify the customers.
Moreover, the eKYC solution also provides a new revenue opportunity, as it offers the proprietary eKYC service to Mint’s financial institution partners. Mint aims to drive adoption of the Mint mobile app, and facilitate its position as a provider of mobile-enabled financial services in partnership with licensed financial institutions.
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