Managing Director/Chief Executive officer, Nigeria Interbank Settlement System, NIBSS, Mr. Ade Shonubi said it has gone into a partnership with two major telecommunication companies to enhance the bank verification number, BVN registration.
The partnership allows bank customers that enrolled for the BVN to use their telephone number to request for their BVN from NIBSS at any time, by dialing the code *565*0#, on any of the telecommunications network adding that only the telephone numbers submitted by the bank customers during the enrolment for the BVN can be used to access the service.
Mr. Shonubi, who stated this in Wednesday in Lagos during a press briefing explain that only Etisalat and Airtel Nigeria rendered the services adding that the partnership was to encourage more Nigerians to enroll for the BVN.
The MD also explained that the partnership was about convenience for those with BVN stressing that about 20 million bank customer now have their BVN.
According to him, “For those of us who are not aware of the objective of the BVN, there are three major cardinal objectives: First of all, it is to assist the banking industry with Know-Your-Customer, KYC services. So, it will help them in verifying the people who come to open an account. Secondly, it is to help the industry to give some form of comfort to people who want to take credit and thirdly, we want to be able to identify fraudsters and put them in their place. We should be able to blacklist them and ensure that they don’t come back to the industry.
“Specifically, to the customers, the advantage is that a customer that has account numbers with four or five banks, if you can’t remember your account numbers, with just your BVN, you can access any of all those banks.
“Secondly, we believe there would be bank agnostic services that will come up soon where it doesn’t matter which bank you are banking with such that once you have your BVN, you will access from all those banks. Thirdly, the issues of having to remember pass words, pin and all that, if I have a BVN, it should be able to verify me.”
Speaking on the partnership, the Chief Marketing Officer Etisalat, Mr. Francesco Anjelone, said, “We believe that innovation in the direction of banking services is the way telecoms industry has to go. Integration of telecommunications with banks is a pillar for development. Etisalat is more than happy to have other telcos come join the partnership because as soon as we have the critical mass and everybody is on top of it there would be a creation of value for both industries.”
On her part, a Senior Manager, Airtel Nigeria, Mrs. Afolake Ogunbajo said, “Airtel is very excited to partner with NIBSS on this special project and we promise that the service will go live on Airtel network” he said

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