Grace Omachoko
Leading financial technology company, Opay, has revealed its commitment to reinforcing the integrity and credibility of its platform by implementing stringent Know Your Customer (KYC) measures.
The company stated this at a media briefing in Lagos to unveil their plans for the New Year, disclosing that starting from March 1, any account not linked with the owner’s National Identity Number (NIN) and the bank’s Biometric Verification Number (BVN) would face deactivation.
This move is in accordance with the KYC directive set by the Central Bank of Nigeria (CBN). Opay emphasized its dedication to customer security and complying with regulatory requirements.
Ik Kolawole Odiase, Director of Partnership for Opay, highlighted that non-compliance with the directive to link both NIN and BVN would result in the deactivation of the account.
He stressed the importance of aligning both NIN and BVN for enhanced security, and fraudulent accounts would be swiftly removed.
Opay also unveiled a series of innovations and security measures designed to safeguard depositors’ funds.
Odiase emphasized their commitment to the safety of depositors’ funds, reinforcing Opay’s position as a secure financial platform.
Olayemi Priscilla, Head of Card Business at Opay, shared that the company issued over 5 million Opay Verve cards to customers by December 2023.
She highlighted Opay’s extensive customer service efforts, boasting 17 physical locations across the country for face-to-face interactions and a responsive online customer service center for online inquiries and technical resolutions.
Priscilla emphasized Opay’s corporate social responsibility initiatives, detailing the company’s support for children, schools, and communities. Stating that Opay has reached two tertiary institutions in two cities, completed three projects, and is in the process of building branches in universities, starting with the University of Lagos.
Opay affirmed its dedication to providing secure, easy-to-use, and affordable financial services, promising a superfast user experience and innovative products for its growing user base.