Nigerian banks start customer biometric registration
The Nigeria Inter-Bank Settlement System (NIBSS) said on Tuesday (10 June) it will start the rollout of the Bank Verification Numbers (BVN) on Monday 16 June 2014.The Nigeria Inter-Bank Settlement System (NIBSS) said on Tuesday (10 June) it will start the rollout of the Bank Verification Numbers (BVN) on Monday 16 June 2014.
The scheme, which was launched in February by the CBN, involves capturing the biometric data (face and fingerprints) of bank customers to store them at the NIBSS, in a bid to fight fraud and identity theft.
It uses a biometric technology system for verification and secure authentication of the identity of bank customers, the Daily Independent reports.
It gives the Bank customer a uniform and single identity called the Bank Verification Number (BVN) that will be acceptable across the Nigerian financial system.
Seyi Adenmosun, the Project Manager, told the Daily Independent that under the new regime, instances where "some people go to banks, take a loan, change their identity and go to another bank with their newly assumed identity would no longer be possible."
When anyone registers to obtain a BVN number, the NIBSS platform will check its database to see if an identity match exists. The information obtained is then sent to the banks before any number is allocated.