Image Recognition
Dubai, UAE: Mashreq, one of the leading financial institutions in MENA, has introduced Electronic Facial Recognition (EFR) for wholesale banking clients, allowing large corporate banking clients to open bank accounts without wet signature. The account opening process for UAE based wholesale clients is now fully digital & 100% paperless: The client can use a web based account opening journey to input information and upload mandatory documentation, which Mashreq’s systems automatically scan & read, minimizing data entry. Mashreq is amongst the first banks to solve for this and offer such a customer friendly solution to signatories of wholesale clients. In such large corporations, signatories are high-profile individuals who travel frequently, and that used to lead to delays in account opening because signatories would be out of the country. With our EFR solution, they can provide instant digital consent for account opening from their home, office, or anywhere in the world.