(MENAFN- The Arabian Post)

A fully digital escrow service for vehicle ownership transfers has been introduced through a partnership between SlashData and the Integrated Transport Centre, marking a significant shift in how transactions between buyers and sellers are executed in the UAE. The rollout of the platform known as Shary signals an effort to reduce paperwork, lift administrative burdens, and strengthen confidence in a market where used-car transactions continue to expand.

Officials involved in the project described Shary as the first government-backed digital escrow mechanism for vehicle transfers in the country, built to ensure secure and transparent exchanges between parties. The system holds funds in escrow until all required steps are completed, providing an added layer of protection for individuals finalising ownership transfers. By integrating payment, authentication, and approval processes into a single digital journey, authorities aim to eliminate points of friction that have traditionally slowed deals or exposed participants to risk.

SlashData's partnership with the transport authority supports a broader move by Abu Dhabi towards digital transformation in public services. The platform is designed to provide automated verification, secure deposits, and instant notifications, allowing users to complete ownership transfers without physical visits or paper documents. According to executives familiar with the project, the technology applies encrypted transaction management and real-time identity checks to safeguard parties from fraud, ensuring accuracy in the documentation process.

The introduction of Shary comes at a time when vehicle ownership transfers form a substantial segment of the transport services ecosystem. Authorities have been assessing ways to reduce disputes associated with manual processes and improve the traceability of payments. By placing funds under controlled release, the platform reduces the possibility of either party defaulting, a feature that has been highlighted as a strong safeguard for individuals unfamiliar with vehicle transaction protocols.

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Industry observers note that the UAE's automotive market has been expanding steadily as demand for new and pre-owned vehicles grows, supported by population inflows, stable economic performance, and improvements in financing options. This environment has amplified calls for more efficient transaction systems, particularly as digital service adoption has accelerated. Experts assessing regional digital-services trends say consumers increasingly expect government platforms to mirror the speed and ease of commercial applications, especially when dealing with procedures involving financial risk.

Shary has also been promoted as a way to streamline operations for dealerships, many of which manage high transaction volumes that depend on predictable processing timelines. Dealership representatives argue that delays in ownership transfers can affect inventory movement and customer experience, thereby influencing sales cycles. A platform capable of automating key steps is expected to ease these pressures and reduce administrative overheads.

From a governance perspective, regulators view the service as a step towards strengthening compliance frameworks. By maintaining a secure audit trail of payments and approvals, Shary aligns with the transport authority's mandate to enhance accountability and improve data integrity across its platforms. Officials emphasise that robust digital infrastructure supports wider economic objectives by reinforcing trust in digital public services and lowering operational costs.

The solution also reflects a broader pattern of collaboration between technology firms and government agencies in the UAE. Partnerships of this type have accelerated the introduction of digital services in transport, finance, and logistics, contributing to the country's competitiveness in adopting secure public-sector technologies. The choice of an escrow model suggests that authorities are prioritising mechanisms that reduce financial exposure for residents while maintaining a clear regulatory framework.

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Shary's paperless structure allows users to complete every step online, from initiating the transfer to the final confirmation of ownership. The process includes verification of vehicle records, approval from relevant authorities, and release of funds once conditions are met. Users are guided through each step with digital prompts, reducing the possibility of incomplete submissions that have historically slowed approvals.

Analysts following digital services in the Gulf describe the launch as a noteworthy development for the region's transport sector. Several Gulf jurisdictions have been pursuing initiatives that reduce reliance on manual paperwork, though a fully digital escrow system for vehicle transfers represents a more advanced form of integration. The model may provide a benchmark for similar services across the region, particularly as cross-emirate and cross-border vehicle transfers become more common.

The platform's developers have underlined that security remains a central component of Shary's design. Encryption protocols, identity authentication, and system monitoring are embedded to ensure the safe holding and release of funds. The goal is to foster a transaction environment where both buyers and sellers can engage with confidence, supported by government oversight and modern technology.

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