Withdrawing cash, paying bills, updating your KYC and applying for a loan just got a lot easier. All you need now is your Emirates ID to process any of these transactions.
Mashreq, one of the UAE’s leading banks has announced that it will be integrating the EIDA (Emirates Identity Authority) with all of these offerings, allowing customers to even use their IDs to withdraw money from the bank’s 200 EIDA-enabled 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, cheque book and statement requests, and even update their mobile number” Mashreq said in a statement.
Mashreq is the first bank in the region to offer this facility, along with Al Hilal Bank. Speaking to reporters at a press conference, HE Dr Saeed Abdullah Al Ghafi, Director General of the Emirates Identity, said that this practice would gradually extend to the entire banking sector as well as other areas of the economy like health cards, voting cards and the airport E-Gates, making the ID the principal reference point for verification of individual identities.
“This will support the achievement of one of the top objectives of the Emirates ID, listed in its 2014-16 strategic plan,” he added.
The incorporation of all of these services into a single card is in keeping with the broader vision of a Smart government, said HE Abdul Aziz Al Ghurair, CEO of Mashreq. He added that it will also “ensure higher standards of efficiency and security” for customers.
Mashreq expects data entry processes to be reduced by 70 percent as a result of this, along with increased accuracy and reduced time in processing transactions.