Digified Approved to Offer AI-Powered Digital ID Services in Egypt

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.