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Hawiya, a company affiliated with the Central Bank of Egypt, is preparing to launch a pilot phase for a digital financial identity system that enables biometric verification, account opening, data updates, and transaction authentication through participating banks’ applications. The company has not yet specified the final launch date or the names of the banks participating in the first phase.
Experiences in Egypt, India, Ghana and Kenya, along with a study covering seven countries, reveal that a mismatch between a mobile SIM user and its registration data goes beyond a customer service problem to become a regulatory and security challenge linked to fraud and digital identity.