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Stanbic IBTC Offers Nigerians in Diaspora more Access to BVN Registration

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Stanbic IBTC Bank has expanded the registration process for the Biometric Verification Number (BVN) for its customers at designated centres across the world to ensure that its teeming customers in the Diaspora are not denied access to their accounts and other financial services in Nigeria.

The bank assured its customers that efforts have been made to ensure that the registration is easy, seamless and fast through the strategic location of enrolment points at VFS Global and Online Integrated Solutions (OIS) canters across the world.

Central Bank of Nigeria (CBN) had earlier announced extension of the BVN registration deadline for bank customers who live abroad till June 2016 to ensure that they are all reached and their biometrics captured.

The registration guidelines provided by the CBN for clients in Diaspora show that BVN enrolment can be done at offshore branches of any Nigerian bank and through the service canters of the two service providers, Online Integrated Solutions (OIS) and VFS Global, the apex bank engaged.

The canters provided to further drive enrolment are: London, Leicester and Manchester in the United Kingdom; Dubai; Johannesburg and Cape Town in South Africa; Kuala Lumpur, Malaysia; Beijing, Shanghai and Guangzhou in China; Jeddah, Riyadh and Al Khobar in Saudi Arabia; Atlanta, Houston, San Francisco and Los Angeles in the US. Others are: Toronto and Vancouver in Canada; Paris, France; Rome, Italy; Sao Paulo, Brazil; Ankara, Turkey; Kiev, Ukraine; New Delhi, India; Moscow, Russia; Brisbane, Melbourne, Perth and Sydney in Australia

Mr. Babatunde Macaulay, executive director, Personal and Business Banking, Stanbic IBTC Bank, said the bank will continue to provide the necessary support and assistance to its clients in Diaspora to ensure that they are all properly registered. “It is our desire to ensure that no customer is denied access to their accounts or other financial services as a result of failure to do the BVN enrolment, which is why we are doing everything possible to speed up the registration process by providing relevant information and support to account holders who live abroad,” Macaulay said.

Stanbic IBTC Bank is a subsidiary of Stanbic IBTC Holdings Plc, a full service financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management.

Standard Bank Group, to which Stanbic IBTC Holdings belongs, is the largest African bank by assets and market capitalization.

It is rooted in Africa with strategic representation in 20 countries on the African continent, including South Africa. Standard Bank has been in operation for over 153 years and is focused on building first-class, on-the-ground financial services organizations in chosen countries in Africa and connecting other selected emerging markets to Africa and to each other, applying sector expertise, particularly in natural resources, globally.

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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E-Financial

UBA Introduces Video Live Chat with Co-Browsing Technology

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In recent times, customer behaviour and expectations are ever-evolving and with this challenge, comes the need to meet their needs as well as ensure, new offerings are at the forefront of technological evolution.

 

On the back of this development, UBA a leading innovative player in Financial Services is finding new ways to communicate and engage with their customers.

 

With the growing mobile consciousness, customer demand for online services is on the rise and it is imperative to meet this demand with digital self-service platforms.

 

However, to meet this demand, the role of human interaction in the process cannot be underestimated.

 

It fits into our creed to continue to foster our unlimited dedication and access to the customers.

 

In this regard, the United Bank of Africa, in its unrelenting effort to raise the bar, likewise the levels of ease and convenience in customer experience through innovation, has introduced Video live chat with Co-browsing technology.

 

Firstly it enables Customer Experience Experts to help customers in real-time, enabling a support experience centred on visual engagement.

 

Why is this important? 65% of the world are visual learners. Not only can enquiries and issues be resolved more efficiently and swiftly, but co-browsing can complement other channels, improving the overall customer experience

 

UBA is differentiating with Customer Experience and use of Video Live Chat and Co-browsing to improve customer acquisition, service and to improve x-sell & retention by enabling more meaningful contact with customers.

 

Video Co-browsing enables customers to virtually have a one-on-one interface with the bank through co-browsing application via video live chat, text chat, and through real time document exchange. This makes it easier for bank staff to assist customers through a number of difficulties; from filling intricate bank forms and even helping them resolve much more complex transactions. Sometimes, the platform simply facilitates directing the customers to the exact information they need.

 

It provides a secure file-sharing, compliant, real-time communication solutions that enables the bank hold co-browsing sessions to expedite troubleshooting as well as ordinary enquiries.

 

This without a doubt moves light years ahead of the old customer service where interaction is purely through phone calls; this method which has proven to be frustrating especially when it involves fixing a problem urgently.

 

It also comes resourcefully as a quick and easy fix for those who do not have enough time for a physical visit to the bank to take care of their transactions.

 

Other benefits include:

o       All session actions are accountable

o       Secure collaboration

o       Navigate the web together

o       Control access

o       Collaborate online, effectively

 

With this latest innovation, UBA can engage visually and digitally with customers while maintaining human interaction at any given time, in a bid to continue to virtualize customer experience.

 

It offers faster solutions in response to customer enquiries on a more personalised basis anywhere, anytime and from any device.

 

UBA as always, is committed to ensuring greater efficiency and better customer satisfaction. To experience the Video Love chat and Co-browsing technology, visit ubagroup.com .

 

 

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E-Financial

BVN: CBN Orders Banks to Keep Database of Fraudulent Customers

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Godwin Emefiele, Governor of the Central Bank of Nigeria

The Central Bank of Nigeria (CBN) yesterday directed banks to establish a database of their customers identified through their Bank Verification Numbers (BVNs) to be involved in a confirmed fraudulent activity in the banking industry.

The directive was contained in the Regulatory Framework for Bank Verification Number (BVN) Operation and Watch-list for Nigerian Financial System released by the CBN. The implementation of the framework is with immediate effect.

’Dipo Fatokun, CBN Director, Banking & Payments System, who signed the framework, said bank customers are to by this framework, abide by  the regulatory framework for BVN operations and the watch-list for the Nigerian Banking Industry and also report all suspicious or unauthorized activities on their accounts.

Data from the CBN showed that Nigeria experienced a total of 3,500 cyber-attacks with 70 percent success rate and loss of $450 million within the last one year mainly through cross-channel fraud, data theft, email spooling, phishing, shoulder surfing and underground websites.

Although e-fraud rate in terms of value dropped by 63 percent, after the BVN introduction and improved collaboration among banks via the fraud desks, the total fraud volume rose significantly by 683 percent.

The new regulation is expected to assist the CBN to a great deal, in curbing the menace of fraudsters

According to Fatokun, the new framework is in the exercise of the powers conferred on the CBN, by Sections 2 (d) and 47 (2), of the CBN Act, 2007, to promote the development of efficient and effective payments systems for the settlement of transactions.

He said the framework provides standards for the BVN operations and watch-list for the Nigerian Banking Industry. The watch-list comprises a database of bank customers’ identified by their BVNs, who have been involved in a confirmed fraudulent activity in the banking industry in Nigeria.

Fatokun said the regulatory framework shall guide activities of the participants in the provision of the BVN operations in Nigeria and that the CBN, Nigeria Inter-Bank Settlement System (NIBSS), Deposit Money Banks (DMBs), Other Financial Institutions (OFIs) and Bank Customers are participants in its implementation.

He said the CBN, in collaboration with the Bankers Committee, proactively embarked upon the deployment of a centralized BVN System and launched the BVN in February 2014. This, he said, was part of the overall strategy of ensuring the effectiveness of the Know Your Customer (KYC) principles, and the promotion of a safe, reliable and efficient payments system.

The BVN gives a unique identity across the banking industry to each customer of Nigerian banks.

“This framework also defines the establishment and operations of a Watch-list for the Nigerian Banking Industry, to address the increasing incidences, of frauds, with a view to engendering public confidence in the banking industry.

“This framework, without prejudice to existing laws, is a guide for the operations of the watch-List in the Financial System.”

The Watch-list is a database of bank customers identified by their BVNs, who have been involved in confirmed fraudulent activities.

The framework is expected to clearly define the roles and responsibilities of stakeholders; clearly, define the operations of the BVN in Nigeria; define access, usage and management of the BVN information, requirements and conditions and provide a database of watch-listed individuals.

It is also expected to outline the process and operations of the watch-List and deter fraud incidences in the Nigerian Banking Industry.

In implementing this framework, the CBN is expected to approve the Regulatory Framework and Standard Operating Guidelines as well as approve eligible users for access to the BVN information.

The Nigeria Interbank-Settlement System (NIBSS) is to collaborate with other stakeholders to develop and review the Standard Operating Guidelines of the BVN while the banks are to ensure proper capturing of the BVN data and validate same before the linkage with customers’ accounts.

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E-Financial

NDIC wins Excellence Award

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The Nigeria Deposit Insurance Corporation (NDIC) has been conferred with the “Special Recognition and Commendation Award for Excellence in Banking (Public Service)” at the Business Day Banking Awards 2017 which was held over the weekend.

In a letter of commendation to the Corporation, the awards committee anchored stated that the NDIC was adjudged as: “an outstanding public service provider” with sterling performance which stood high above its peers in effective leadership and accomplishments.”

According to the organisers, the award committee reviewed the pragmatic and tangible transformations which the Corporation brought into management and execution of its core mandate including mitigation of corruption, insider abuse as well as containing non-performing loans in the nation’s financial system.

The Committee stated that the NDIC: “has also pursued the observance of corporate governance principles in the Nigeria’s financial system”, with declaration that this contribution and other milestone achievements earned the Corporation the public recognition.

Receiving the award on behalf of the Corporation, Alhaji Umaru Ibrahim, NDIC Managing Director, said the corporation welcomed the award as a challenge to further raise the bar of excellent performance on the discharge of its mandate.

He recalled the rebranding of the Corporation in 2013 which gave rise to the overhaul of the its processes, procedures, systems and methods of operation in line with global best practices in deposit insurance.

He expressed delight that Management’s initiatives were paying off with recognitions coming from home and abroad.

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