Digital Identity and eKYC Awareness Sessions

JoPACC hosted week-long awareness sessions for banks on electronic know-your-customer procedures (eKYC) and on digital identity. The sessions started on the 3rd of March with a message from JoPACC CEO introducing the national KYC utility initiative and its potential benefits to the Kingdom’s financial institutions, and introducing JoPACC to the banking and financial sectors in the kingdom. The sessions captured financial institutions’ views and concerns on the KYC utility through a survey covering different segments for the technical, business and compliance elements of the utility. The sessions were conducted for all 25 banks working in Jordan. Attendees were from technical, business and compliance departments of banks. The sessions addressed challenges in the current KYC procedures, and presented a high-level proposed solution, elaborating on targeted benefits. The proposed solution was presented with details on: onboarding process, integration, advanced services for higher due diligence, government onboarding, reports and visualization, as well as security ISO standard.