12 October 2021 – Mashreq NEO, the full-service digital bank from Mashreq Bank, has 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 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. 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. 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.
Re-disseminated by The Asian Banker from Mashreq Bank