Eswatini Launches e-KYC Platform to Boost Financial Inclusion and Security
Eswatini is advancing its financial landscape with a significant initiative. Deputy Governor Felicia Dlamini-Kunene attended a high-level stakeholder conference to discuss the rollout of the national e-KYC platform. This system aims to boost financial inclusion and enhance national security.
The e-KYC system, developed by the Central Bank of Eswatini, targets the unbanked population. It will ease access to formal financial services, fostering financial inclusion. The platform will also aid law enforcement and regulators in identifying and investigating financial crimes, thereby bolstering national security.
The conference, attended by key players like commercial banks, regulators, and government ministries, discussed the rollout of this innovative platform. Eswatini is also exploring a cross-border registry for real-time, secure identity verification across the Southern African Development Community (SADC). This could lead to a more integrated payments infrastructure, boosting financial efficiency and security regionally.
The e-KYC platform promises to simplify identity verification for banking services and enable secure access to government programs and social security benefits. With the potential for cross-border integration, Eswatini's financial sector is poised for growth and enhanced security.
