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UN-Supported Digital ID, KYC Project to Boost Financial Inclusion in Malawi

– Biometric Update

UN sponsors unified digital ID database in Malawi

The United Nations Capital Development Fund (UNCDF) and United Nations Office for South-South Cooperation (UNOSSC) are co-sponsoring the creation of a digital ID database in Malawi. The project aims to help the Reserve Bank of Malawi (RBM) digitize their Know Your Customer (KYC) scheme and increase citizen access to services, ranging from health, education, and finance.

“The project mostly targets low-income citizens and those who face challenges identifying themselves when trying to access certain public services, with the major goal of helping the RBM digitize the KYC system for financial institutions in the country.”

The aim of the digital KYC project is to improve verification processes. It has the potential to increase access to financial services for marginalized people in Malawi, such as women and rural communities.

The project will start with 1,500 people registered to the digital KYC platform of the RBM, 50 percent of which will be women

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