Vlens, in collaboration with EFG Holding, has received initial approval from the Financial Regulatory Authority FRA to join the FRA Sandbox with its NFC ePassport Digital Identity Verification Platform for Foreign Nationals.

The project introduces a secure digital identity verification platform that leverages Near Field Communication (NFC) technology to verify the identities of foreign nationals through NFC-enabled electronic passports (ePassports). The solution enables seamless digital onboarding and identity verification, allowing non-Egyptian customers to securely access insurance, investment, and other non-bank financial services.
Highlighting the significance of the project, H.E. Dr. Islam Abdel Azim Azzam, Chairman of the FRA said “The initial approval reflects the FRA’s commitment to supporting innovative digital solutions that enhance the efficiency of non-banking financial services, while ensuring market stability and protecting customers’ rights.”
Eng. Ahmed Khalifa, Executive Director of the FRA Sandbox & Chief Data Officer, said: “The project demonstrates the potential of digital identity verification to simplify onboarding, strengthen regulatory compliance, and expand access to non-bank financial services.”
Ms. Dina Anwar, Co-Head of Digital Retail Trading Platform at EFG Hermes, said: “Receiving the FRA’s initial approval for our ePassport-based digital identity verification solution, in collaboration with VLens, marks an important step forward in our ambition to make investing through EFG Hermes ONE more seamless, accessible, and digitally enabled. By leveraging ePassport technology, we are working to simplify the onboarding journey for foreign investors and provide a secure, efficient pathway to access investment opportunities in Egypt. This collaboration reflects our commitment to continuously leveraging technology to enhance the investor experience and expand access to Egypt’s capital markets.”
The initial approval announcement was made in the presence of:
From the Financial Regulatory Authority (FRA):
·        H.E. Dr. Islam Abdel Azim Azzam — Chairman of the FRA
·        Eng. Ahmed Khalifa — Executive Director of the FRA Sandbox & Chief Data Officer
·        Mr. Mahmoud Gebril — Assistant to the Chairman of the FRA
·        Eng. Ahmed Attia — Deputy Assistant to the Chairman at the FRA
From VLens:
·        Eng. Mohamed Mamdouh — (CEO)
·        Eng. Housam Adel — Head of Product
From EFG Holding:
·       Mr. Ahmed Ibrahim —CEO and Founder of wealth platforms
·        Ms. Dina Anwar — Co-Head of Digital Retail Trading Platform

At the FRA Sandbox, we are proud to support innovative digital identity solutions that advance financial inclusion, strengthen regulatory compliance, and accelerate Egypt's digital transformation in the non-bank financial sector.

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