Page 81 - ETIHAD CREDIT INSURANCE PR REPORT - FEBRUARY 2025

Etihad Credit Insurance Integrates with

KYC Blockchain Platform

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.

Explored Planet32 Rare Historical Photos That Would Be Unthinkable In
Today's World
Ad

Blockchain’s integration into the KYC platform also paves the way for greater
collaboration between public and private sectors. Government institutions have

been proactive in creating the necessary infrastructure to support blockchain
adoption. The Dubai Department of Economy and Tourism’s leadership in this

https://www.msn.com/en-ae/news/other/etihad-credit-insurance-integrates-with-kyc-blockchain-
platform/ar-AA1yk4vx