Page 69 - ETIHAD CREDIT INSURANCE PR REPORT - FEBRUARY 2025

2/5/25, 9:03 AM Etihad Credit Insurance joins KYC Blockchain Platform
this initiative being a key example. By easing access to banking, financial, and

insurance services, the platform fosters regulatory collaboration while ensuring

robust KYC compliance. ECI’s participation underscores the growing momentum

of this initiative, and we look forward to further strengthening Dubai’s position as a

global trusted business hub.”

Astyanax Kanakakis, CEO and Co-Founder of norbloc, stated that, “The KYC

Blockchain Platform establishes a single version of truth per customer profile,

enhancing data quality, boosting transparency, while improving institutions’ efforts

to combat financial crimes, streamlining data exchange and encouraging

cooperation. Furthermore, the continuous expansion of platform members in the

country aligns with the UAE’s strategy for digital transformation and is an integral

component to stimulating economic growth and reinforcing the UAE’s leading

position as a global financial hub and a primary investment destination.”

The platform uses norbloc’s Fides solution to improve customer experiences by

leveraging innovative blockchain technology to offer access to accurate and

reliable information for banks and other financial institutions.

Joining the platform ensures an expedited account opening process, streamlined

financial and digital services, seamless consent-driven customer data transfer,

and confidentiality of customer data.

With the goal of facilitating efficient data exchange in the emirate, the Dubai

Department of Economy and Tourism (DET) launched the KYC Blockchain

Platform in 2020, in collaboration with a group of founding member banks.

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