THE ELECTRONIC KNOW YOUR CUSTOMER (E-KYC) PROJECT

In 2020, the Bank of Uganda (BoU), in collaboration with Uganda Bankers’ Association (UBA), National Identification and Registration Authority (NIRA), and Financial Sector Deepening Uganda (FSDU), signed a contract with fintech company Laboremus Uganda to develop a digital ID verification system to be used by all banks and other licensed financial service providers in the country.

Why E-KYC

BOU, UBA, NIRA, and FSD Uganda, launched the tender to support the supervised financial institutions with increasingly technical KYC requirements. Banking is based on trust. Trust starts with establishing a person’s identity. The National ID Verification solution allows supervised financial institutions to trust that a customer’s identity is correct regardless of where the customer was onboarded – in a branch in Kampala or by an agent in Nakapiripirit.

About the E-KYC System

  • The system uses NIRA’s existing records and the National ID card system to help banks validate the identity of existing and prospective customers. Specifically, the system checks whether the Ugandan National ID details match those in the NIRA database.
  • The solution allows for seamless remote onboarding of customers into the formal financial system. By providing the National ID Number (NIN), the card number, the names, and the date of birth, the bank can verify a customer’s identity.
  • The verification happens automatically and in seconds. Additionally, the solution verifies directly against the source database (as opposed to existing procedures involving manual checks of the Electoral Commissions database). Onboarded banks use the platform during customer onboarding, account opening and loan origination processes

The benefit:

A robust national ID system with eKYC capabilities is critical to achieving a fully functional digital economy that the government and the private sector can use to deliver quality, low-cost products and services to an ever-increasing number of Ugandans.

 
For more information, please contact:

Patricia Amito
Head Communications and Corporate Affairs
Uganda Bankers’ Association
patriciaamito@ugandabankers.org
+256 779 521 437
www.ugandabankers.org

Jackie Kitiibwa
Digital Economy Lead
FSD Uganda
jkitiibwa@fsduganda.or.ug
+256 776 263 201
www.fsduganda.or.ug

Frieda Hamster
Head of Sales
Laboremus
frieda@laboremus.ug
+256 740 937 963
www.laboremus.ug

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