Frost & Sullivan has awarded Germany’s largest biometrics manufacturer DERMALOG and solutions for Africa with the “2015 African Biometrics Company of the Year Award” for its achievements in 20 African nations including Nigeria, where it closed the Bank Verification (BVN) deal.
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. Under the plan, customers receive a Bank Verification Number (BVN) with which all of their transactions can be completed securely and reliably via fingerprint. In 2013, DERMALOG won an international tender from the Central Bank of Nigeria for the $50 million project.
[blockquote right=”pull-right”]“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. Under the plan, customers receive a Bank Verification Number (BVN) with which all of their transactions can be completed securely and reliably via fingerprint. In 2013, DERMALOG won an international tender from the Central Bank of Nigeria for the $50 million project.” [/blockquote]
- Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), undergoing a biometric verification exercise
According to the German biometrics manufacturer, its biometric installation has successfully registered over 18 million bank customers in Nigeria. So far, approximately 10,000 double identities and multiple registrations have been averted every day, thereby preventing fraud and money laundering in the financial sector thanks to the reliability of the installation.
The German biometrics manufacturer was recently honoured with the award in South Africa. The prize was awarded to the Hamburg-based company for its achievements in twenty African countries. A key reason for the award is also the innovative portfolio of fingerprint scanners and biometric systems from DERMALOG.
In countries such as Angola, Ghana, Tanzania, and Zambia, it contributes sustainably and decisively to solving local challenges such as identity theft, corruption, demography, and migration as well as the economic development of these countries.
The company says its Automated Biometric Identification System (ABIS) 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.
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