Banks to capture customers’ finger prints next year

Abuja – The Governor of the Central Bank of Nigeria
(CBN), Malam Lamido Sanusi, said the bank would
begin capturing of biometric data of bank customers
to ensure better services.
Sanusi disclosed this on Tuesday in Abuja at the
signing of a contract with Dermalos Ltd, a German
company that will handle the Banking Industry
Biometric Solution Project.
He said the biometric database would boost
customer's confidence in the banking system and
provide solutions to authentication, fraud, credit
extension and financial inclusion, among other
issues.
"The underlining issue facing many banks in Nigeria
is lack of unique identity of Nigerian customers.
"So, the first thing we need for any kind of
transformation in the banking industry around
money laundering, around fraud, around financial
inclusion is to be able to properly identify customers.
"And the biometrics gives you a unique identification
because you cannot change your finger.
"If a bank lends to you, it knows that it is you it has
lent to, and it can reach you and have you pay; you
are not going to take on a different identity.
"If you commit fraud in one bank or borrow from one
bank, and do not pay, the next bank that wants to
check your credit record will know that you have a
history of bad loan.
"So, it improves the entire confidence around which
the banking system is built on,'' he said.
Sanusi also said that the biometric database would
solve the problem of irregular signature, and also
ensure more participation of uninformed people.
"We have a large population of illiterates. People go
to ATM and cannot remember their pin numbers, but
with biometric ATMs and POS, with your finger you
can withdraw your money.
"And also, if you go to the bank and you don't have
your check book your finger is all the identification
you require for you to take your money.
" And it also solves the problem of irregular signature
and so on. So, it is a transformational and
revolutionary solution that will completely transform
the Nigerian payment system," he said.
The CBN boss said also that the initial stage of the
biometric database would be completed within 90
days with at least one branch of every bank linked to
the data base.
He said that after completing the database of
commercial banks, the initiative would be extended
to others like microfinance banks and mortgage
banks.
The Managing Director, Zenith Bank, Mr Godwin
Emofiele, who is also the chairman of the biometric
solution sub-committee, said the project would cost
more than 50 million dollars at the initial stage.
He said that the banks would share the cost of the
projects and no customer would be charged either
directly or indirectly for the project.
The Deputy Director, Head Shared Services,
Governor's Department, CBN, Mr Chidi Omeono, said
the project was a major milestone for the banking
sector.
"Financial inclusion is what the CBN is pursuing, and
what we are trying to do is to have a unique
identification for our customers.
"What we are trying to achieve today is a situation
where every bank customer is known for who he is in
every bank of every branch as the same person.
"So it will help us to better identify our customers,
and help us to align our payment system and achieve
financial inclusion,'' he said (NAN). www.vanguardngr.com/2013/11/banks-capture-customers-finger-prints-next-year/