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The Nigeria Interbank Settlement System (NIBSS) has issued approved standard operating guidelines for Bank Verification Number (BVN) matching system, mainly for a harmonized way of verifying customer’s identity.
This, the company owned by all deposit money banks said, is to undergird the centralized BVN for a uniform repeatable approach in using the system in the banking industry.
This uniform approach needs to define the routine processes and procedures followed by every organization in the industry that would facilitate consistent conformance to technical and quality system requirements and support data quality.
In a statement to this effect, it said, the NIBSS standard operating procedure for the BVN system would be specific to the banking industry and assist the industry to maintain their quality control and quality assurance processes and ensure compliance with governmental and nongovernmental regulations.
Nigerian banks get standard operating guidelines for BVN matching today.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from today.ng Daily Mail and Mail on Sunday newspapers.