17 January 2018
visit www.avoka.com

Nigerian banks begin biometrics registration project

17 February 2014  |  6523 views  |  0 biometrics - finger print

Nigeria's banks have embarked on a massive biometrics project, registering the fingerprints and facial features of customers in a bid to fight fraud and money laundering.

Run by the Central Bank of Nigeria and the Bankers' Committee, the scheme will see commercial banks record the details of millions of people over the next few months.

The data will then be used to help identify customers at ATMs and the point-of-sale, reducing the opportunity for fraud.

The central bank also hopes that biometrics will help to move Nigeria away from a cash-based economy to a credit-based one by making it easier for lenders to identify borrowers.

Central Bank governor Mallam Sanusi Lamido Sanus told All Africa that the system would also help spread financial services to remote, rural areas of the country and enable banks to cut costs by sharing physical infrastructure.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Biometrics make headway at CES, Las Vegas

Biometrics make headway at CES, Las Vegas

09 January 2014  |  7535 views  |  1 comments | 10 tweets | 10 linkedin
Latin American governments tap biometrics for benefit payments

Latin American governments tap biometrics for benefit payments

24 October 2013  |  4710 views  |  0 comments | 4 linkedin
MasterCard joins Fido Alliance in bid to replace passwords with biometrics

MasterCard joins Fido Alliance in bid to replace passwords with biometrics

11 October 2013  |  16067 views  |  0 comments | 12 tweets | 14 linkedin
Nigeria to roll out multi-purpose national ID and payment cards

Nigeria to roll out multi-purpose national ID and payment cards

09 May 2013  |  8799 views  |  1 comments | 5 tweets | 3 linkedin
Nigeria sets cash withdrawal limits

Nigeria sets cash withdrawal limits

04 May 2011  |  8047 views  |  1 comments

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.niceactimize.comvisit www.capgemini.com

Top topics

Most viewed Most shared
Buffett rubbishes cryptocurrencies; South Korea preps exchange crackdownBuffett rubbishes cryptocurrencies; South...
11548 views comments | 15 tweets | 17 linkedin
BNP Paribas Asset Management completes fund transaction blockchain testBNP Paribas Asset Management completes fun...
10160 views comments | 14 tweets | 33 linkedin
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
9595 views comments | 32 tweets | 34 linkedin
Crypto mining threatened by power capacity concernsCrypto mining threatened by power capacity...
9461 views comments | 17 tweets | 18 linkedin
Exchanges call for global fintech standardsExchanges call for global fintech standard...
9191 views comments | 17 tweets | 13 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job