"Emirates Financial Institute" It cooperates with "Identity and nationality" And financial institutions to develop biometric payments

Abu Dhabi, March 10 / WAM / Under the auspices of the United Arab Emirates Bank, the Innovation Center of the Emirates Financial Institute, and the Federal Authority for Identity, Nationality, Customs and Ports Security signed five joint understanding notes with Emirates NBD, Sharjah Islamic Bank, Local Maria Bank, Payby and Tabby, with the aim of developing the use of biometric data to ratify payments, Providing the field to conduct transactions around the clock throughout the week, including an immediate settlement, and the transactions based on devices and non -existing on them, ensuring a safe and smooth financial system.
This partnership is the first state of use that is implemented within the “Technical Sandbox” technical environment since the inauguration of the innovation center of the Emirates Financial Institute, which confirms the UAE’s keenness to advance the financial innovation wheel and improve customer experience.
The Innovation Center of the Emirates Financial Institute will continue its role in attracting parties from the financial sector and facilitating their participation in exploring payments based on biometric data in the country.
This partnership will also focus on integrating biometric authentication technologies to enhance safe and smooth payment transactions using the central bank payment systems such as, the advanced “Annie” platform for immediate payment, the local system of “gene” payment cards, developing digital financial services by using advanced technologies to verify the identity to ensure greater safety, the availability of service around the clock throughout the week, and support the existing transactions on Devices and non -based on them.
His Excellency Ibrahim Al -Sayed Mohamed Al Hashemi, Assistant Governor for Executive Office, Secretary General of the United Arab Emirates Central Bank, said: The initiative to explore the biometric authentication technologies for digital payments in the experimental environment, the continuous central bank’s commitment to improve the financial system in the UAE by integrating biometric verification technologies, and through this close cooperation with our partners, we will be able to enhance the safety and efficiency of transactions, which is Digital payments will make more reliable and accessible to all users.
His Excellency Saif Hamid Al Dhaheri, Assistant Governor of the Central Bank for Banking and Support Services, and Vice Chairman of the Emirates Financial Institute, said: This partnership represents a qualitative leap in the development of digital payments in the United Arab Emirates, and the merge of biometric authentication with the payment systems of the central bank will enhance safety and speed and improve the experience of user by enabling digital transactions based on devices and non -exists on them.
He added: This initiative enhances confidence and reliability and also works to create a more smooth and comprehensive financial system, which opens new opportunities for companies and consumers alike.
For his part, His Excellency Major General Suhail Saeed Al Khaili, Director General of the Federal Authority for Identity, Nationality, Customs and Ports Security, said: We are proud that the Federal Authority for Identity, Nationality, Customs and Ports Security be at the forefront of this transformational partnership, which provides biometric technology to enable banks and innovative financial technology companies to develop payment systems technologies, and this partnership will reshape the scene of payments in the UAE, what It provides a safer and innovative financial system for citizens and residents of the country.

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