Now, use your face to open a bank account in 3 minutes
Mashreq NEO ‘first digital bank’ to use facial recognition for account opening
UAE residents can now open a bank account without the need to visit the bank by using facial recognition technology.
The new service is provided by Mashreq bank in cooperation with the Ministry of Interior (MOI), which has provided the facial recognition verification system of UAE residents.
Mashreq NEO, the fullservice digital bank from Mashreq Bank, said yesterday that it will enable residents to conveniently open a bank account using facial recognition technology in just three minutes.
Verification and approval
Lieutenant Colonel Dr Ahmad Al Shamsi, Head of the Artificial Intelligence Systems and Services Development Team at the General Directorate of Security Support at MOI, said the bank will use the facial recognition technology provided by MOI to verify the new customer in order to get the approval and open a bank account with Mashreq NEO.
At a press conference yesterday at Mashreq Bank headquarters, Lt Col Al Shamsi said: “We are keen to develop our relations with all national institutions to benefit from modern technologies and the distinguished infrastructure of the UAE Government. This aims to achieve the directions of the UAE government and the vision of UAE wise leadership in enhancing the quality of life of the Emirati community by providing modern and updated services that meet the needs of customers.”
He said the bank will use the technology to validate and authenticate the rightful holder of the official document in real time against government databases to safeguard against fraud. “This process, in turn, enables customers to open their new accounts securely and seamlessly.”
Fernando Morillo, Senior Executive Vice President, Group Head of Retail Banking, Mashreq Bank, said: “Capitalising on the latest facial recognition technology, our customers’ identities will be verified instantly through artificial intelligence, thus providing our customers with a convenient and seamless experience without compromising on their data security.