The Central Bank of the UAE (CBUAE) has announced the creation of a unified nationwide electronic Know Your Customer (e-KYC) platform, with Swedish technology firm Norbloc AB named as its technical partner.
The initiative forms a central component of the CBUAE’s Financial Infrastructure Transformation (FIT) Programme, a broader effort to build a more integrated and efficient financial ecosystem across the country. A formal technical partnership agreement between the two organisations has been signed to underpin the project.
The platform is designed to overhaul how financial institutions and FinTech companies conduct customer and business verification. By automating KYC and Know Your Business (KYB) workflows and integrating data from trusted sources, it aims to cut down on duplicated due diligence processes, lower compliance costs and tighten adherence to anti-money laundering and countering the financing of terrorism (AML/CFT) frameworks. Built on a privacy-by-design architecture, the system allows data to be shared securely only with the explicit consent of the customer, providing strong protections around confidentiality. Both individual and corporate clients stand to benefit from faster digital onboarding and reduced turnaround times.
The signing ceremony was attended by CBUAE governor H.E. Khaled Mohamed Balama and assistant governor for banking and insurance supervision H.E. Ahmed Saeed Al Qamzi. The agreement itself was formally signed by CBUAE assistant governor for banking operations and support services H.E. Saif Humaid Al Dhaheri and Norbloc AB chief executive officer Astyanax Kanakakis, alongside senior representatives from both organisations.
Norbloc AB is a global technology company specialising in digital compliance infrastructure. Its involvement in this partnership centres on delivering a platform that enables financial institutions to access verified data in real time from multiple sources, supporting both regulatory compliance and operational efficiency.
The CBUAE has indicated that future development phases will focus on broadening the platform’s functionality and deepening integration with relevant stakeholders, with the longer-term goal of advancing the UAE’s position as a hub for digital regulatory infrastructure.
CBUAE assistant governor for banking operations and support services Saif Humaid Al Dhaheri said: “The development of the e-KYC Platform represents a strategic transformation towards a more efficient and resilient financial ecosystem. Through this platform, we are enabling the sector to move away from resource‑intensive traditional processes towards progressive digital models that accelerate access to financial services and reduce operational costs. At the CBUAE, we aim to enhance efficiency and establish a financial environment characterised by transparency and the protection of customer privacy, in a way that reinforces the UAE’s competitiveness as a leading global financial centre.”
Norbloc AB chief executive officer Astyanax Kanakakis said: “We are proud to partner with the Central Bank of the UAE in delivering this platform, which sets a new benchmark in digital compliance globally. By leveraging advanced technologies, we will enable financial institutions to access trusted and secure data in real time from multiple sources, enhancing operational efficiency while adhering to the highest international standards. It also empowers users with full control over the management of access to their data.”
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