DataPro Releases Mobile Apps for BVN

Nigeria’s leading compliance solutions company, DataPro, has launched a new mobile applications to enhance banking services in the country.

The latest application which is relevant in capturing   Global Positioning System (GPS), featured the latitude and longitude of an address would be useful for financial institutions in tracking the authenticity of information produced by customers especially in the Know Your Customer (KYC) procedures.

According to the firm’s Executive Director, Operations, Mr. Oladele Adeoye,  with the latest application, the company was able to completely eliminate fictitious address verification by capturing the GPS, photograph and all other physical characteristics of any address in Nigeria on-line and real time.

He said  that  since the company pioneered the outsourcing of address verification by banks in 2010, its  major challenge had been on how to have a fool-proof method of documenting the process, but the new idea was reliable enough to  solve the hitch. ‘’The mobile application would eliminate all paper work, guaranty proof-of-work and achieve robust turnaround time.

“By virtue of Section 3 of the Money Laundering Prohibition Act (MPLA) 2011 ( As Amended)  all financial institutions are mandated to conduct the KYC procedure which involves the identification and verification of the customers demographics of name and address before establishing any business relationship with the customer. This is to ascertain that the customer is who he says he is, and also confirm if he is the Ultimate Beneficial Owner (UBO)”