Latest news with #Digified
Fintech News ME
3 days ago
- Business
- Fintech News ME
Digified Secures FRA Approval for Digital Identity Services in Egypt
Digified, a Cairo-based digital identity provider, has received regulatory approval from Egypt's Financial Regulatory Authority (FRA) to offer its AI-powered digital onboarding, eKYC, and e-contracting services to non-banking financial institutions (NBFIs) in the country. With this approval, companies in the lending, investment, and insurance sectors regulated by the FRA can now create digital IDs, conduct electronic know-your-customer (eKYC) processes, and sign contracts remotely, without the need for physical paperwork or signatures. These digitally signed contracts are recognised as legally binding in Egyptian courts, allowing fintech platforms to operate as formal digital branches. The company acknowledged the role of its partners in achieving this milestone, including Plug and Play, Creativa Innovation Hub, and ITIDA, whose support and investment were described as instrumental. Ibrahim Hassan, CEO of Digified, said: 'Thanks to our pioneering team, this licence is a major milestone for Digified and highlights how AI creates value in advancing financial and digital inclusion in Egypt. We also extend our gratitude to Dr Mohamed Farid, FRA Chairman, and the FRA leadership team for their vision and support. This achievement furthers our mission to deliver a secure, compliant, fully digital ID suite for Egypt and the MEA region.' The license strengthens Digified's position in Egypt's growing digital identity market, where the company currently handles over 25 million verification transactions annually across regulated sectors. Its platform offers real-time identity validation and fraud prevention, with integration into government databases to authenticate national ID and mobile registry information, and supports the creation and legal registration of smart contracts. Digified is active across the Middle East and Africa, providing AI-based digital identity solutions aimed at supporting secure and compliant digital onboarding for the region's financial technology and digital services sectors.
CairoScene
4 days ago
- Business
- CairoScene
Digified Approved to Offer AI-Powered Digital ID Services in Egypt
With approval from Egypt's Financial Regulatory Authority, Digified can now provide digital onboarding, eKYC, and legally binding e-contracts for fintech and NBFI platforms. Aug 07, 2025 Egyptian digital identity startup Digified has received regulatory approval from the Financial Regulatory Authority (FRA) to offer AI-powered onboarding, eKYC, and e-contracting services to non-banking financial institutions (NBFIs). These include companies operating in lending, investment and insurance under FRA oversight. The approval enables institutions to issue digital identities, verify users remotely and sign legally binding contracts - eliminating the need for physical paperwork or wet signatures. These contracts carry full legal validity in Egyptian courts, allowing digital platforms to operate as official fintech branches. Digified's FRA-compliant platform includes biometric and non-biometric eKYC tools, real-time validation of government ID and mobile registry data, and smart contract features with digital signature and registration capabilities. 'Thanks to our pioneering team, this license is a major milestone for Digified and highlights how AI creates value in advancing financial and digital inclusion to Egypt. We also extend our gratitude to Dr. Mohamed Farid, FRA Chairman, and the FRA leadership team for their vision and support. This achievement furthers our mission to deliver a secure, compliant, fully digital ID suite for Egypt and the MEA region,' said Ibrahim Hassan, CEO of Digified. With over 25 million verification transactions taking place annually across Egypt's financial sector, Digified aims to solidify its position as a market leader in the country's digital identity space. The company credited its milestone to support from Plug and Play, Creativa Innovation Hub, and ITIDA, who have backed Digified's broader mission of powering secure, AI-driven identity services across the MEA region.
Wamda
4 days ago
- Business
- Wamda
Digified secures FRA approval for AI-powered digital onboarding services in Egypt
Press release: Digified is proud to announce that it has secured regulatory approval from the Financial Regulatory Authority (FRA) for its AI-powered digital onboarding, eKYC, and e-contracting services tailored for non-banking financial institutions (NBFIs) in Egypt. With this regulatory milestone, lending, investment, and insurance companies regulated by the FRA can now fully create digital IDs, verify their e-kyc, and sign legally binding contracts — all without paperwork, wet signatures, or physical presence. These digital contracts carry full legal weight in Egyptian courts, enabling fintech apps to function as official digital branches. This achievement would not have been possible without the trust and support of our partners. Special thanks to Plug and Play, Creativa Innovation Hub, and ITIDA, whose investment and belief in our vision have been instrumental in reaching this milestone. 'Thanks to our pioneering team, this licence is a major milestone for Digified and highlights how AI creates value in advancing financial and digital inclusion in Egypt. We also extend our gratitude to Dr Mohamed Farid, FRA Chairman, and the FRA leadership team for their vision and support. This achievement furthers our mission to deliver a secure, compliant, fully digital ID suite for Egypt and the MEA region,' said Ibrahim Hassan, CEO of Digified. This licence positions Digified to maintain its market leadership in one of the fastest growing digital identity markets in the region—with over 25 million verification transactions annually across Egypt's lending, investment, and insurance sectors. The FRA-compliant suite supports: Digital ID Creation – Biometric and non-biometric eKYC for secure onboarding. Government Data Authentication – Validating client information via national ID and mobile registry databases. E-Contracts & Registry – Legally binding dynamic and smart contracts with digital signatures and government official contract registration. Digified powers the future of digital identity in emerging markets. Digified provides AI-driven verification services that support secure, compliant digital onboarding across the MEA region. Our platform enables real-time identity validation and fraud prevention for the digital economy and FinTech. Backed by local and international partners, Digified is committed to building trusted digital identity infrastructures that empower growth and digital inclusion.
Zawya
22-07-2025
- Business
- Zawya
Egypt: FRA grants approvals for fintech expansion, 3 new startup establishments
Arab Finance: The Financial Regulatory Authority (FRA) has issued approvals for five companies to expand their operations in the non-banking financial sector, according to a statement. Digified, a company registered as an outsourcing services provider, has received approval from the FRA's committee for reviewing fintech applications in non-banking financial activities to add digital contract execution for non-banking financial products and digital registration, preservation, and retrieval services to its business scope. The committee also endorsed the establishment of Nice Deer, Dayra, and iSupply as fintech startups. Additionally, the committee renewed the registration of VLens Company as an outsourcing services provider. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
