Mashreq Neo, a full-service digital bank affiliated with Mashreq Bank, announced that it will enable customers to easily open a bank account using the facial fingerprint system provided by the Ministry of Interior.
The service, which was launched in cooperation with the Ministry of Interior, enhances the verification of the owners of official documents through the face fingerprint system, which uses the latest innovative technologies to verify the integrity of digital transactions, which in turn contributes to reducing fraud, and this technology, in turn, will allow customers to open their accounts new safely and smoothly.
Fernando Murillo, Senior Executive Vice President and Head of Retail Banking Group, Mashreq Bank, said: “We are pleased to launch this service, the first of its kind by a digital bank in the UAE, in cooperation with the Ministry of Interior. By utilizing the latest facial recognition technology, the integrity of digital transactions and the authenticity of our customers’ identification documents will be instantly verified through artificial intelligence techniques, thus providing our customers with a convenient and seamless experience without compromising the security of their data. These solutions are among the important technologies that serve the digital business development agenda in the UAE, and in Mashreq, we see that metrics and biometrics technologies will play a greater role in the future, as customers search for safe and convenient ways to conduct their financial transactions.
Lt. Colonel Dr. Ahmed Saeed Al Shamsi, Head of the Artificial Intelligence Systems and Services Development Team at the General Department of Security Support at the Ministry of Interior, said: “We are working to expand the integrative work with all institutions in the public and private sectors and support them in enhancing the security of digital transactions and services in the face of modern challenges and technical developments, as the ministry has invested in new technologies, including the face print, and its employment and generalization of its use in order to achieve the directives of the UAE government.”
Sridhar Iyer, Executive Vice President and Head of Mashreq Neo, Mashreq Bank added: “The facial recognition system allows customers to open a bank account instantly in a secure and seamless manner. We strive to continuously provide innovative products and services to our customers to conduct their daily digital financial transactions with ease and peace of mind.”
To open a Mashreq Neo account in just 3 minutes, customers simply scan their Emirates ID by tapping on it on the smartphone, confirming the details, and taking a selfie. The account will be opened and the debit card delivered to their door.
(Except for the headline, this story has not been edited by The Technology Express staff and is published from a syndicated feed)
