Cairo — Egyptian regulatory technology firm Digified has received clearance from the Financial Regulatory Authority (FRA) to roll out AI-powered digital Know Your Customer (eKYC) and e-signature services across the country’s non-banking financial sector, marking a significant step in Egypt’s digital ID evolution.
Founded in 2019, Digified specializes in digital identity verification and onboarding solutions. The new license allows the Cairo-based startup to serve lending, investment, and insurance companies with tools to create digital IDs, authenticate customer information against national ID and mobile registry databases, and execute legally binding contracts online.
Streamlining Onboarding
The approval enables financial institutions regulated by the FRA to transition away from paper-heavy processes and wet signatures toward fully digital contracting workflows. Digified’s platform supports both biometric and non-biometric verification methods, combining machine learning algorithms with official government data sources for identity checks.
Contracts signed digitally in Egypt hold the same legal status as traditional signatures, and Digified believes the move will save time, reduce fraud risk, and expand financial access for underserved customers.
“Our license is a major milestone that showcases how AI can drive financial and digital inclusion in Egypt,” said CEO Ibrahim Hassan. He credited the achievement to the company’s team and to partnerships with Plug and Play, Creativa Innovation Hub, and the Information Technology Industry Development Agency (ITIDA). Hassan also thanked FRA Chairman Dr. Mohamed Farid for his support.
Positioning for Growth
With more than 25 million annual verifications already conducted in lending, investment, and insurance domains, Digified says the license cements its leadership in Egypt’s digital ID market. The company sees the approval as a springboard to expand services across the Middle East and Africa (MEA) region.
The licensing reflects broader government efforts to modernize Egypt’s financial infrastructure and encourage digital transformation, particularly in the non-banking financial sector, which includes leasing, microfinance, and capital markets.
Regional Context
The rollout comes amid rising demand for secure, remote verification services in emerging markets. Regulatory shifts and mobile penetration have accelerated adoption of eKYC and e-signature technologies, with Egypt positioning itself as a hub for fintech innovation in North Africa.
Hassan said the company’s proprietary technology — developed entirely in-house over the past six years — was designed to meet local compliance requirements while matching global standards for data security and fraud prevention.
