To simplify financial transactions within the country, Saudi Arabia has introduced new digital identity verification services for the financial sector. Under the patronage of Minister of Interior Prince Abdulaziz bin Saud bin Naif bin Abdulaziz, Assistant Minister of Interior for Technology Affairs, Prince Bandar bin Abdullah bin Mishari unveiled the service at the 24 Fintech Conference in Riyadh.

This marks a significant milestone in the kingdom’s digital transformation, with the initial phase of digital identity services for the financial sector integrated into the ministry’s Absher electronic platform.

The service will link financial institutions with the government’s platform to streamline financial transactions and boost security. This will enable individuals to electronically verify their identities and perform various financial transactions with ease.

This upgrade improves the user experience, enhances data protection, and strengthens fraud prevention measures.

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