National Bank of Egypt, CIB, Emirates NBD testing e-KYC automation

The National Bank of Egypt, CIB and Emirates NBD are piloting an automated know your customer system (e-KYC), Federation of Egyptian Banks President Hisham Ezz El Arab told Hapi Journal. The federation plans to roll out the system to all banks this year using blockchain technology. E-KYC facilitates the authentication and registration of customers, and allows the data to be shared seamlessly between banks, by eliminating the need for filling out or submitting physical documents.