Egypt’s Financial Regulatory Authority (FRA) has officially approved Digified’s AI-powered digital onboarding, eKYC, and e-contracting services for non-banking financial institutions (NBFIs). The move marks a pivotal step toward full-scale, paperless financial services in Egypt’s lending, investment, and insurance sectors.
What This Means for the Industry
With this regulatory green light, FRA-regulated companies can now:
- ✅ Create fully digital IDs for customers.
- ✅ Complete eKYC verification remotely and securely.
- ✅ Execute legally binding contracts without wet signatures or physical presence.
These digital contracts carry the same legal weight as traditional agreements in Egyptian courts—transforming fintech apps into fully functional digital branches.
A Milestone in Egypt’s Digital Transformation
“This licence is a major milestone for Digified and a leap forward for AI in advancing financial and digital inclusion in Egypt,” said Ibrahim Hassan, CEO of Digified. He credited the company’s pioneering team and extended gratitude to Dr. Mohamed Farid and the FRA leadership for their vision.
Hassan also acknowledged the vital role of partners such as Plug and Play, Creativa Innovation Hub, and ITIDA in turning this vision into reality.
Why It Matters
Egypt’s digital identity market is among the fastest-growing in the region, with over 25 million verification transactions annually. Digified’s FRA-approved suite is set to streamline operations for NBFIs, reduce customer onboarding friction, and enable fully digital customer experiences.
The approved solution covers:
- ✅ Digital ID Creation – Secure onboarding using biometric and non-biometric eKYC.
- ✅ Government Data Authentication – Real-time validation via Egypt’s national ID and mobile registry databases.
- ✅ E-Contracts & Registry – Legally binding digital agreements, smart contract capabilities, and official government registration.
Scaling Digital Identity Across MEA
With this licence, Digified reinforces its position as a market leader in digital identity services across the Middle East and Africa. The platform’s AI-driven verification engine is built to:
- ✅ Detect and prevent fraud in real time.
- ✅ Ensure compliance with regulatory standards.
- ✅ Enable secure financial transactions in both traditional and emerging markets.
Backed by Strategic Partnerships
Local and international partners continue to support Digified’s mission of building trusted digital identity infrastructure. By focusing on security, compliance, and usability, the company is helping shape the future of onboarding for financial services, e-commerce, and digital platforms.