by OKORO CHINEDU
LAGOS, (CAJ News) – THE biometric installation by a leading German firm in the country’s banking industry is said to have significantly reduced fraud and money laundering in the local sector.
The biometric installation from DERMALOG has successfully registered over 18 million customers in Nigeria.
So far, officials said, approximately 10 000 double identities and multiple registrations had been averted every day, thereby preventing fraud and money laundering in the financial sector thanks to the reliability of the installation.
The DERMALOG ABIS (Automated Biometric Identification System) has detected over one million individuals attempting to obtain double or multiple identities.
Using DERMALOG fingerprint scanners and software, all participating banks can ensure that for all transactions, the identity reliably matches the customer because the customer must always be physically present for the registration.
Recently, the consulting company Frost & Sullivan has awarded Germany’s largest biometrics manufacturer DERMALOG and its customized solutions and products for Africa with the “2015 African Biometrics Company of the Year Award.”
The Hamburg-based biometrics innovation leader is continuing to build on its success in the West African country. In the near future, registered
bank customers will also be able to withdraw cash from ATMs and pay at cash machines using their fingerprints.
In Nigeria, DERMALOG currently cooperates with the Central Bank and 23 other banks in a major project in which all bank customers in the country are registered via DERMALOG biometrics.
Customers receive a bank verification number with which all of their transactions can be completed securely and reliably via fingerprint. In 2013, DERMALOG won an international tender from the Nigerian Central Bank for the 50-million-dollar project.
– CAJ News