Al Masraf bank has become the 10 th bank to join the Norbloc KYC Blockchain platform developed under the initiative with Department of Economy and Tourism (DET). Al Masraf has announced the launch of a project that will see it connecting to the norbloc Fides platform, a blockchain-based solution that allows for the secure sharing of eKYC data. The network, which has been live since 2020, connects licensing authorities, free zones and financial institutions across the emirates in an ecosystem, where a single version of each customer KYC file is maintained and shared, ensuring that financial institutions always have access to the latest and most up-to-date KYC data. Graham FitzGerald, CEO Al Masraf stated, “Becoming part of the Fides ecosystem allows us to obtain all of these objectives, as well as join other leading financial institutions in making use of this innovative technology. It is an important step with in line with a broader effort to digitize and streamline our cust...