Saudi Arabia Launches Digital Identity Services for Financial Sector

Riyadh: Saudi Arabia has simplified financial transactions by launching digital identity verification services in the Kingdom.

Digital Transformation

The Ministry of Interior has taken a significant step toward digital transformation by launching the first phase of digital identity services for the financial sector, which are integrated into the ministry’s Absher electronic platform. The service aims to streamline financial transactions and increase security.

By connecting financial institutions to the government’s platform, individuals can verify their identities electronically and conduct various financial transactions with ease. This not only improves the user experience but also strengthens data protection and fraud-prevention measures.

Launch and Patronage

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 launched the new service yesterday at the 24 Fintech conference in Riyadh.