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February 15, 2011updated 04 Apr 2017 1:08pm

First Bank of Nigeria targets unbanked with biometric ATM service

FBNs group head, eBsuiness, Chuma Ezirin, said that the launch of the biometric ATM was part of the banks strategy to bolster customer data protection and counterfeit fraud. FBN has rolled out the service at one of its branches in Nigeria's capital Lagos, but said that it will extend the service to other branches.

By Duygu Tavan

First Bank of Nigeria (FBN) has launched a biometric authentication service for its ATMs.

FBN’s group head, eBsuiness, Chuma Ezirin, said that the launch of the biometric ATM was part of the bank’s strategy to bolster customer data protection and counterfeit fraud.

FBN has rolled out the service at one of its branches in Nigeria’s capital Lagos, but said that it will extend the service to other branches.

The biometric ATM service is available to FBN’s card holders who can add the biometric authentication feature to the exiting PIN-based service.

Ezirin said that new cardholders, including the blind or illiterate, will be issued a card that supports the biometric authentication feature.

“This is a great feat for the Bank especially at this period where fraud prevention and building customer confidence on the use of electronic channels are key customer acquisition and retention strategies. This would also drive financial inclusion, a Central Bank initiative to address the banking needs of the unbanked population’, Ezirin said.

The biometric authentication service was developed by the information technology team at FBN.

On 14 February, the Central Bank of Nigeria approved the launch of an e-payment card specifically for the country’s unbanked sector.

Mexico-based Banco Azteca is the worlds only fully biometric bank and all its account holders use fingerprint DNA to access their accounts.

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