New UAE Banking Platform Aims to End Repeated Document Submissions
The UAE banking sector is developing a unified digital platform that would automatically update customers’ personal information and documents, cutting down on the need for people to submit the same records separately to every bank and institution they deal with.
Jamal Saleh, director general of the UAE Banks Federation, said the platform is expected to be ready before the end of this year and will pull information directly from the official entities responsible for maintaining it. Speaking on the sidelines of Seamless Middle East, Saleh said the project is one of several initiatives being developed under the leadership of the Central Bank of the UAE, in collaboration with the Banks Federation and other stakeholders, as the country continues to expand digital banking and strengthen its broader financial infrastructure.
The platform is built around what’s known as a golden source principle, meaning each piece of information would be pulled from its single authoritative source rather than repeatedly requested from the customer. In practice, that could mean details tied to an Emirates ID, passport or other documents could be retrieved or updated electronically from the relevant official source, instead of requiring customers to hand over renewed paperwork separately to multiple banks each time something expires.
Saleh said the objective is to collect and link customer information electronically, with the system designed to cut down on repetitive processes whenever a document expires or gets renewed. He added that the platform would also give customers a single point of access to information tied to several services at once.
Saleh noted that the UAE’s advanced digital infrastructure, along with its investment in technology, gives the country a strong foundation for continuing to modernize its financial services.
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