The bank verification number was introduced majorly to solve identity management challenges in the banking sector. The Central Bank of Nigeria CBN introduced the Bank Verification Number in collaboration with all other commercial banks operating in Nigeria due to the increase in compromise in the security system in the banking sector.
There is a great demand for better security in access to sensitive and personal information. The bank verification number gives every bank customer a unique identity across the banking industry, since it has a centralised biometric identification system which can be used for every identification and verification at Point of Banking Operations.
Here are some benefits of having a bank verification number:
• Your Bank Accounts are protected from unauthorized access
• Your BVN gives you a unique identity that can be verified across the Nigerian Banking Industry (it is not peculiar to one Bank)
• Your BVN is accepted as a means of identification across ALL Nigerian Banks
• Its cuts down fraudulent activities on bank accounts
• Gives easy access to Banking operations
If you don’t know how to get your Bank Verification Number
BVN, just walk into any bank of your choice to make enquiries and get it done today.
