Abu Dhabi: The Central Bank of the UAE (CBUAE) announced the development of the nationwide unified Know Your Customer (e‑KYC) platform, following the signing of a technical partnership agreement with the global technology company Norbloc AB.

This strategic initiative constitutes a core pillar of the Financial Infrastructure Transformation (FIT) Programme, which aims to build an integrated financial ecosystem that enhances operational efficiency. It also reflects the CBUAE’s commitment to modernising regulatory frameworks and adopting advanced digital solutions. The platform will address challenges arising from the duplication of customer due diligence processes, reduce compliance costs, and strengthen financial stability and competitiveness, further reinforcing the UAE’s leadership in the global digital financial landscape.

The signing ceremony was witnessed by H.E. Khaled Mohamed Balama, Governor of the Central Bank of the UAE, and H.E. Ahmed Saeed Al Qamzi, Assistant Governor for Banking and Insurance Supervision at the CBUAE. The agreement was signed by H.E. Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the CBUAE, and Mr Astyanax Kanakakis, Chief Executive Officer of Norbloc AB, in the presence of senior officials from both sides.

The new platform will enhance the efficiency of “Know Your Customer” and “Know Your Business” (KYC/KYB) processes, as well as due diligence requirements through automated workflows and the integration of trusted data sources. This will strengthen compliance and ensure alignment with anti‑money laundering and combatting the financing of terrorism (AML/CFT) frameworks. Underpinned by a robust privacy‑by‑design technology, the platform enables secure data sharing strictly based on explicit customer consent, ensuring the highest standards of confidentiality, data protection and trust across the financial system. It introduces a unified national approach that supports both financial institutions and fintech companies, delivering a faster and more reliable digital onboarding experience for individuals and businesses, while substantially reducing turnaround times and operational costs.

This project represents a key milestone in the digital transformation of the UAE’s financial sector. Future phases will focus on expanding the platform’s capabilities and deepening its integration with relevant stakeholders, supporting the development of an advanced and sustainable digital financial ecosystem. The initiative underscores the CBUAE’s commitment to leveraging advanced technologies to enhance governance, deliver customer‑centric financial services, support ease of doing business, and further cement the UAE’s position as a hub for innovative digital regulatory infrastructure.

Commenting on the agreement, H.E. Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the CBUAE, 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.”

Mr Astyanax Kanakakis, Chief Executive Officer of Norbloc AB, 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.”