Sections
Poll: UK military offer
Do you support UK's military assistance as a way of fighting militancy and smuggling in Niger Delta?
First Bank to deploy Nirph’s Customer Identification System
Font size:
First Bank of Nigeria Plc is set to deploy the latest Customer Identification System (CIS) across all its branches nationwide from Nirph Digital West Africa Limited, a leading information technology company in Nigeria. The actual deployment of the product is expected to begin before the end of this month. About five other banks, some public agencies and a state government are also in the process of evaluating the product.
With this development, First Bank becomes the first financial institution in the whole of Africa and among the first few in the world to deploy this solution that would enhance its customer service delivery and checkmate identity fraud. It would also ensure that the bank conforms to the Know Your Customer (KYC) standard requirement of the Central Bank of Nigeria (CBN) which would ultimately position the bank as being in the forefront if eliminating multiple identity fraud within the Nigerian banking industry.
Nirph CIS, Bamidele Asorona, chief executive officer of Nirph Digital West Africa Limited, said, is specifically designed to speed up transactions, reduce fraud and improve customer satisfaction. CIS, which also contains an Afis fraud detection database that enables financial institutions to immediately identify fraudsters, eliminates multiple identities and identify fraud across the financial sector.
According to a report by the Nigerian Deposit Insurance Corporation, bank frauds currently stands at about N10 billion every month. But with the introduction of the product into the Nigerian market, this development is expected to be drastically controlled if the industry embraces the product as quickly as possible.
Asorona, who spoke last week during his company’s participation at this year’s African Banking Conference and Expo in Lagos, said the system is composed of a highly quality fingerprint scanner and special software that extracts the fingerprints characteristics and compares them to the fingerprints in the known fraudster database. When a match is found, the system sends the information to the CIS cashier application which displays the fraudster’s photo, next to the individual’s photo and all the persons previously captured personal information. This person is identified using his fingerprints, the photo serves only as an additional means to visually identify the individual.
Asorona said the company decided to launch this product into the Nigerian market in order to lay a solid foundation for the prevention of crime and criminal activities in the country.
He said although government at all levels spend huge amounts of money on the development of infrastructure in the country, “ an important aspect of it that is being left out is the issue of identity which is why it is easier for some people to commit crimes many times without the government having a database for such activities.”
With this development, First Bank becomes the first financial institution in the whole of Africa and among the first few in the world to deploy this solution that would enhance its customer service delivery and checkmate identity fraud. It would also ensure that the bank conforms to the Know Your Customer (KYC) standard requirement of the Central Bank of Nigeria (CBN) which would ultimately position the bank as being in the forefront if eliminating multiple identity fraud within the Nigerian banking industry.
Nirph CIS, Bamidele Asorona, chief executive officer of Nirph Digital West Africa Limited, said, is specifically designed to speed up transactions, reduce fraud and improve customer satisfaction. CIS, which also contains an Afis fraud detection database that enables financial institutions to immediately identify fraudsters, eliminates multiple identities and identify fraud across the financial sector.
According to a report by the Nigerian Deposit Insurance Corporation, bank frauds currently stands at about N10 billion every month. But with the introduction of the product into the Nigerian market, this development is expected to be drastically controlled if the industry embraces the product as quickly as possible.
Asorona, who spoke last week during his company’s participation at this year’s African Banking Conference and Expo in Lagos, said the system is composed of a highly quality fingerprint scanner and special software that extracts the fingerprints characteristics and compares them to the fingerprints in the known fraudster database. When a match is found, the system sends the information to the CIS cashier application which displays the fraudster’s photo, next to the individual’s photo and all the persons previously captured personal information. This person is identified using his fingerprints, the photo serves only as an additional means to visually identify the individual.
Asorona said the company decided to launch this product into the Nigerian market in order to lay a solid foundation for the prevention of crime and criminal activities in the country.
He said although government at all levels spend huge amounts of money on the development of infrastructure in the country, “ an important aspect of it that is being left out is the issue of identity which is why it is easier for some people to commit crimes many times without the government having a database for such activities.”
Add to:
del.icio.us |
Digg
del.icio.us |
Digg
Email to a friend
Print version
Plain textRate this article
Comments ( posted):
Post your comment