Bank account opening

Digital ID enables electronic know your customer (e-KYC) to validate identity to open bank accounts. Under Bank of Tanzania (BOT) KYC and Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) regulations, banks and microfinance institutions must verify customer identity during account opening. The national identification number (NIN) serves as the primary proof of identity. Financial institutions verify customers through fingerprint authentication against the National Identification Authority (NIDA) database. As of 2023, more than 55 financial institutions had integrated with the National ID System, which enabled more than 16 million people to access financial services through their NIN.