Mashreq Bank on Wednesday said some of its banking services are now integrated with Emirates Identity Authority-issued ID cards.
The banking services for Mashreq that are integrated with the EID cards include account opening, transfers, utility bill payments, know your customer (KYC) update, cash withdrawals and deposits.
Mashreq has modified its digital banking infrastructure that allows customers to use their ID cards for bank transactions by simply visiting any of the bank’s ID-enabled branches or ATM machines.
All their existing bank cards will appear on the ATM screen, allowing them to choose from a number of options, including cash withdrawal; bill payments, local and international transfers, cash and cheque deposit, chequebook and statement requests, and even update their mobile number.
The new feature will also enable customers to update their visa and passport details instantaneously, eliminating the need for physical visits to a branch.
“By partnering with Emirates ID, we will provide our customers with the latest innovations in banking technologies that are in line with the UAE’s vision of establishing a nationwide digitally smart infrastructure. We are the first bank to offer our customers this full- fledged integration with the Emirates ID,” said HE Abdul Aziz Al Ghurair, CEO of Mashreq.
Emirates ID expects more banks to integrate their services to ID cards in a phased manner over the next two to three years. “There are more banks working on the integration process that makes banking services more convenient to customers. Going forward we expect integration of more government services such as health services, driver’s license and e-gate services to name a few,” said HE Dr Saeed Abdullah Al Ghafli, Director General of the Emirates Identity Authority.
Emirates ID is currently working on the launch of its second generation ID cards that will have the capability to integrate more services on it. Dr Al Ghafli said the card in its current form is a fully compatible personal ID card that can be substituted for other identity proofs like the passport or any other government issued identity.
“By law all government services in the UAE can now be obtained using ID card as the valid identity cards. We are aware that some banks continue to use passport as the primary identity proof. It’s more a matter of habit and we expect that Emirates ID will be universally accepted across the country soon,” he said.
Mashreq officials said the integration of banking services with ID cards will result significant savings in terms of time spent on account opening, updating of personal data for KYC requirements and accuracy in data directly used from the EIDA database using card readers.
“Branch staff will now only need to insert the customers Emirates ID in the ID reader, allowing all the cards’ information to be recorded instantaneously on the banks’ E-forms. This will reduce 70 per cent of current data entry processes, and also ensure accuracy of data, meaning that rejections during new account openings will become a thing of the past,” said Aref Al Ramli, Head of Electronic Business & Innovation, Mashreq.
Operations & Services Integration Operations