Bank of Uganda1/20/20 3:18 PM
Bank of Uganda (BoU) together with Uganda Bankers Association, National Identification and Registration Authority (NIRA) and Laboremus on Friday launched a shared E-Gateway between NIRA, Supervised Financial Institutions (SFIs) and BoU that will improve on the process of the verification and authentication of SFIs current and prospective customer information against records maintained by NIRA.This is an important milestone in the digitizing of the financial systems in Uganda. Financial service providers will have access to a joint system to verify if the customer’s identification is authentic and correct. This makes the KYC (know-your-customer) checks easier, less risky, and less cumbersome. BoU believes the system will offer a secure, multi-factor digital authentication that will eventually be available to all companies in the financial services sector. 

Downlaod: Speech by Executive Director Supervision

Related Stories