Cookie Consent by Privacy Policies Generator website Mashreq NEO to become first Digital Bank in UAE to use Facial Recognition for Bank Account Openings : GoDubai.com

GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

    Share
Mashreq NEO collaborates with Ministry of Interior (MOI) to introduce an innovative face biometric based digital account opening process
 
Dubai, UAE – 13, October 2021: As part of the efforts to implement the directives of the UAE government in enhancing the quality of life for the Emirati community and its quest to sustain scientific and digital excellence, Mashreq NEO, the full-service digital bank from Mashreq Bank, today announced that it will enable residents to conveniently open a bank account using facial recognition technology. 
 
The initiative, launched in collaboration with the UAE's Ministry of Interior, leverages the ministry's existing facial recognition verification system, which uses state-of-the-art technology to validate and authenticate Rightful holder of 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
 
Starting from early November 2021, new customers of Mashreq NEO will be able to access banking services by simply scanning their Emirates ID and using their face as their primary authentication method; eliminating the need to visit a bank branch, as well as making the process more secure.
 
Fernando Morillo, Senior Executive Vice President, Group Head of Retail Banking, Mashreq Bank, said: “We are delighted to launch this service , the first of its kind by a digital bank in the UAE, in collaboration with the Ministry of Interior. Capitalizing 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. The service  builds on the UAE's leading digital agenda, and at Mashreq, we see biometric technologies such as this playing a larger role going forward, as customers look for safe but convenient ways to conduct their financial transactions and benefit from a superior customer experience. 
 
 
Lt. Colonel Dr. Ahmed Saeed Al Shamsi, Head of the Artificial Intelligence Systems and Services Development Team at General Directorate of Security Support, MoI said that “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 stressed that we are working to expand the integrative work with all institutions in the public and private sectors and support them in enhancing the security of digital transactions and services in the face of the challenges of the times and technical developments in which The Ministry has invested in new technologies, including the facial recognition, and its employment and generalization of its use to achieve the directives of the UAE government.
 
He expressed his happiness to collaborates with Mashreq Bank to enhance the services provided by this prestigious banking institution through fruitful collaboration whose main objective is the public interest and expanding the scope of benefiting from technologies in the services provided.
 
Sridhar Iyer, Executive Vice President and Head of Mashreq NEO and Liability Products, Mashreq Bank, added: “Facial Recognition verification system allows customers to open a bank account instantly, in a secure as well as seamless manner.  As a bank, we strive to continuously offer innovative products and services to our customers to conduct their daily digital financial transactions with complete ease and peace of mind.
 
He added that the Ministry of Interior's facial recognition system provides improved security and enhances 'infrastructures compatible with the needs of biometric identification of people and digital document holders' that use the latest facial recognition technology to complete identity verifications in seconds.
To open a Mashreq Neo account in just 3 minutes, customers simply scan their Emirates ID by tapping it to the Smartphone, confirm details and take a selfie. The account will be opened, and the debit card delivered to their doorstep.  
 



Posted by : GoDubai Editorial Team
Viewed 4957 times
Posted on : Wednesday, October 13, 2021  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Al Ansari Exchange sees surge in non-resident transactions in first 10 days of Expo 2020
Next Story : Banks across Africa Turn to IBM Hybrid Cloud and AI Solutions to Accelerate Digital Innovation
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Pandora and World-Renowned Author, Nadia Owusu, Release a Collection of Festive ...
Big Crown Pointer Date Calibre 403
Swiss Arabian Launches New Unisex Fragrance Line to Honor the Region's Heritage ...
The Flormar Beauty Products we are Crushing on this Festive Season
essence cosmetics' (National Day) edit
Catrice Cosmetics - Create your own look inspired by National Day!!!
BMW Announce the X7 UAE 50th Year Edition to Mark the UAE's Golden Jubilee
LG Electronics Announces New CEO and Other Changes to Aggressively Tackle 2022 a...
The Sky Is the Limit for the World Food Programme's Humanitarian Efforts
GEMS Education Schools Celebrate the UAE's Golden Jubilee as they look ahead to ...
Orthocure SportsMed Clinic- Opens its grand doors at The Mall in Jumeirah
DLD: 5,352 Sales Transactions worth AED 13.12 Billion in October 2021
Get a National Day Super Slam at Denny's for Only AED 50
In limelight of a new Guinness World Record PACE Education Group
UAE's Inspiring Growth Story and Sharjah's Cultural Vision Hailed on Concluding ...
Emirates Red Crescent and Abu Dhabi University Launch a Humanitarian Funding Cam...
‘ICT Fund SEF Hackathon' Takes UAE Youth through an Exciting Entrepreneurial Ide...
Lulu Launches Campaign to Promote Local Products
The OMEGA Trésor is Enlivened With a New Malachite Dial
Malabar Gold & Diamonds Launches its first Artistry Concept Store in Somajiguda,...
Joyalukkas Announces Biggest Sale of Year for 5 Days!
Lulu Group, Apparel, Centrepoint, ENOC, Splash, Jashanmal, Majid Al Futtaim, Moh...
aswaaq Retail Celebrates UAE's 50th National Day with a Dedicated Store Fully Op...
Al Maya Group Congratulate UAE Leaders for 50 Years Celebrations
Patchi Celebrates The Nation's Success Story on UAE Year of the Fiftieth
EWEC To Conduct Second Clean Energy Certificates Auction in December
Hotpack Scoops four Honours at PRIME Awards 2021, MD chosen MEA Personality of t...
In Commemoration of the UAE's 50th National Day Ariel, Tide, and Bonux along wi...
Asha's at Wafi Celebrates 50 years of UAE in an authentic way!
GMIS PRL 7 Titled: Mohammed Bin Rashid Initiative for Global Prosperity Announce...
Al Khoory Sky Garden Hotel Opens at the Heart of historic Dubai
SEHA marked Commemoration Day across its Facilities
Cartoon Network Middle East Study Reveals Increase in Cyberbullying During Pandemic
LG Launches New Ultragear Gaming Monitor in the Gulf Region
DHA's Social Fund Programme Receives Financial Contribution from Al Rostamani Group
#NoFilterDXB Revs Up as Hollywood's Hottest Wheels Dazzle the Harbour!
Cisco and Expo 2020 Dubai Call on UAE's University Students to Shape the Future ...
The Swiss Pavilion at Expo 2020 Dubai hosts “No time to Waste” Exhibition
UAE's Green Mobility Ambitions in View as #NOFILTERDXB Spotlights Auto Industry'...
Union Coop Pays Tribute to the Brave Martyrs on Commemoration Day 2021
Lincoln Marks the UAE's Golden Jubilee with a Unique View of the Country from 1,...
14 French companies visit Expo 2020 Dubai, UAE to export Normandy Region in the ...
Emirates Post Group to unveil region's first NFT stamp in commemoration of the 5...
Abu Dhabi Lights Up for Welcome Return of Mubadala World Tennis Championship
Sunny Varkey Launches Tmrw, a new Learning Operating System (LearnOS) for Global...
Cherish & Enjoy a Long Celebration on the Occasion of 50th UAE National Day with...
Newborns in Dubai Hospitals Receive Gifts and Car Seats to Mark 50th UAE National Day
Samsung Announces One UI 4 Update Rollout to further Enhance Galaxy Ecosystem Ex...
Kanoo Machinery Showcases Innovative Machines, Equipment at Materials Handling O...
FilMe to Feature ‘Jai Bhim' and ‘Matsya Kaand'