Nigerian Authorities Opt for Integrated Biometrics Tech in Financial Inclusion Effort

Integrated Biometrics technology could play an important role in a government-backed effort to extend financial inclusion in Nigeria. The company has announced that, together with document digitization specialist Papersoft and the Nigerian Interbank Settlement System (NIBSS), it has been enfolded into the country’s Financial Inclusion Strategy.

The program is aimed at extending financial services access to Nigeria’s 70 million unbanked citizens by the year 2020, and to that end NIBSS and the Central Bank of Nigeria are looking to leverage Integrated Biometrics’ Kojak PL and Five-0 fingerprint scanners to enroll individuals in rural and remote areas in the country’s Bank Verification Number program. The Central Bank of Nigeria has previously indicated that once the BVN program is fully implemented, it plans to replace ATM PINs with biometric scans; in any case, in the meantime, the biometric enrollment of additional citizens in the program “connects secure identity with access to financial services, even in remote locations,” according to a statement from Integrated Biometrics.

Elaborating on the technological solutions in play, Integrated Biometrics said its Kojak PL and Five-0 scanners “are the only truly mobile 10-finger enrollment and verification devices certified and authorized by NIBSS,” adding that they “are perfect for emerging markets, due to their small size, lightweight, rugged construction, and reliability under demanding environmental conditions, plus the ability to run for hours off the power provided by a smartphone.”

While the Nigerian government has faced some criticism for its inefficient use of biometrics – there have been multiple registration efforts by different agencies, with substantial overlap in the data collected – if the Financial Inclusion Strategy proves to be as coherent as it appears, Integrated Biometrics will have played a high-profile role in a laudable effort to improve financial inclusion.

–

November 29, 2018 – by Alex Perala

Related News

Partners

FaceTec’s patented, industry-leading 3D Face Verification and Reverification software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ finally make trusted, remote identity verification possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for 3D Liveness and Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

AuthenticID provides 100% automated identity verification and fraud detection solutions that are leveraged by companies worldwide, including 2 of the top 3 U.S. Banks, 8 out the top 10 wireless providers in North America, and 2 of the 3 credit bureaus. Using proprietary computer vision and machine learning technology, these solutions help companies accurately verify the identity of their users across retail, digital and call center environments for onboarding and ongoing re-authentication events; KYC, IAM, and more. The solutions are easy to integrate and provide customers a large ROI by stopping fraud losses, increasing customer conversion at onboarding, reducing operational costs and allowing quick and cost-effective operational scalability, all while ensuring global privacy regulations are complied with. https://www.authenticid.com/

Anonybit is a privacy-focused technology platform that provides decentralized solutions for securing personal data, particularly biometric information. Rather than storing sensitive data in centralized repositories, which are vulnerable to breaches, Anonybit uses a distributed architecture that breaks data into smaller encrypted bits and stores them across a network of decentralized nodes. This approach ensures that no single entity has access to the full dataset, enhancing privacy and security, even preventing insider threats. Anonybit is used by leading banks, fintechs and other enterprises for critical biometric identity functions like deduplication and blocklist checks, step up authentication, passwordless login and account recovery https://anonybit.io/

Identity Week aims to be a significant identity industry catalyst. It’s our mission is to help accelerate the move towards a world where trusted identity solutions enable governments and commercial organisations to provide citizens, employees, customers and consumers with a multitude of opportunities to transact in a seamless, yet secure manner. All the while preventing the efforts of those intent on doing harm. https://identityweek.net/

The Biometric Digital Identity Prism is a market landscape framework designed to help influencers and decision makers understand, innovate, and implement digital identity technologies and solutions. This innovative framework for understanding and evaluating the rapidly evolving biometric digital identity marketplace is the only market model that is truly biometric-centric based on the foundational conviction that in the age of digital transformation the only true, reliable link between humans and their digital data is biometrics. https://www.the-prism-project.com

ID R&D is an innovator of biometric facial liveness, document liveness, and voice biometrics. Ranked #1 by NIST, our patented passive approach to liveness, and specialized detection of voice clones, injection attacks and deepfakes, empowers KYC and authentication systems with fast, accurate and secure biometric verification technologies. Over 140 partners in more than 70 countries are collectively processing hundreds of millions of identity checks per year. ID R&D solutions easily integrate with mobile, web, messaging, smart speakers, set-top boxes, and IoT devices. Learn more: www.idrnd.ai

Related News

Footer

Follow Us