Arab Finance: EFG Holding, in collaboration with Vlens, 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, according to a press release.

Available via EFG Hermes ONE, the solution will reinforce the platform’s digital capabilities and secure a more seamless onboarding experience for non-Egyptian investors.

The new feature leverages near-field communication (NFC) technology to securely verify foreign nationals through NFC-enabled electronic passports, enabling remote digital identity verification while supporting regulatory compliance requirements.

This partnership supports EFG Holding’s commitment to expanding technology-driven innovation and promoting digital transformation across Egypt’s financial services ecosystem.

Dina Anwar, Co-Head of Digital Retail Trading Platform at EFG Hermes, commented: “Through the integration of VLens’ ePassport verification solution into EFG Hermes ONE, we are leveraging technology to make onboarding more seamless and secure for foreign investors, reinforcing our commitment to simplifying the investment journey and expanding access to opportunities in Egypt.”

Mohamed Mamdouh, CEO of Vlens, noted: “VLens validated 4.3 million unique Egyptian identities and signed 550,000+ e-contracts sent to FRA's central repository. Starting with our partner EFG Hermes ONE, every customer is a true partner, opening our beloved Egypt to foreign investors.”