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2/7/25, 9:39 AM Etihad Credit Insurance Integrates With KYC Blockchain Platform

Etihad Credit Insurance Integrates With KYC

Blockchain Platform

Date Share on Facebook Tweet on Twitter
2025-02-04 02:45:00

(MENAFN- The Arabian Post) Arabian Post Staff -Dubai

Etihad Credit Insurance , a prominent UAE federal export credit company, has joined the
Know Your Customer Blockchain Platform, marking a milestone for the country's insurance

sector. The partnership, aimed at enhancing the efficiency of customer identity verification,

places ECI at the forefront of adopting blockchain technology within the financial industry.

This move reflects a broader trend in the UAE's ongoing efforts to modernize its financial

and insurance sectors. By integrating blockchain-based solutions, ECI joins several other

entities striving to increase transparency, reduce fraud, and improve operational efficiency.
The KYC Blockchain Platform itself, led by the Dubai Department of Economy and Tourism ,

represents a key innovation within the region's fintech ecosystem.

Blockchain's decentralized nature offers significant advantages for KYC processes.

Traditionally, verifying customer identities involves complex, time-consuming procedures that

are susceptible to human error and fraud. The adoption of blockchain ensures secure,

immutable records, allowing for smoother and faster transactions. By participating in this
platform, ECI aims to streamline its own compliance procedures, reducing the need for

manual checks and minimizing risks associated with identity theft.

The KYC Blockchain Platform has already gained traction with a growing number of financial

institutions and government entities looking to optimize their services. For ECI, the decision

to integrate blockchain into its operations comes at a time when trust in digital solutions is
paramount. In particular, the move is expected to strengthen the company's ability to offer

enhanced trade credit services, which are crucial for UAE-based businesses involved in

international trade.

ECI's commitment to embracing blockchain technology aligns with the UAE government's

broader push to position the nation as a leader in digital innovation. The country's strategic

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