E-Portals and Industry Services
E-Portals and Industry services refer to those value added services NIBSS offers to Banks and other players in the financial sector to reduce costs, optimize service delivery, enhance operational efficiency and ease the performance of day to day routine activities in the financial sector.
In order to curb the activities of fraudsters and fraudulent transactions prevalent in the financial sector, NIBSS deployed the Anti-Fraud Portal, which was designed as a shared platform where frauds and fraudsters can be reported, monitored and tracked to avoid a reoccurrence within the sector.
Thus, a fraudster or a fraudulent transaction noticed or perpetuated within the industry is reported or captured on this portal to enable other players have prior knowledge of the nature and form of such questionable transactions or individuals and prevent a reoccurrence.
The Anti-Fraud Portal was extensively reviewed by the relevant stakeholders, officials and regulators within the Banking sector and financial industry at large and was adjudged a winning tool to sanitize and protect the sector.
The AVS portal is an electronic central repository for all signature specimen of relevant staff of all banks and financial institutions. NIBSS provides all banks with access to this electronic database to enable accredited bank operatives perform necessary verification of authorized signatories of banks and financial institutions.
The ASV portal was created in order to replace the otherwise cumbersome and inordinate process of determining and identifying the authenticity and accuracy of signatories representing the various financial institutions, particularly when such officials endorse letters and other formal correspondence within the financial industry.
In the past, every bank or financial institution was required to collate the signature specimen of all their staff nationwide into a single book and circulate this book to all other financial institutions. Thus, thousands of ASV books with hundreds of thousands of specimen signatures were printed by every bank and circulated to all other banks and other financial institutions, under the aegis of the Committee of Chief Inspector of Banks (CCIB). These books easily and quickly became outdated due to staff attrition, change of staff’s role and the likes thus necessitating a revision of the book on an annual basis with huge cost implications.
In summary, ASV was developed:
- To provide a portal to warehouse the database of all authorized signatories in Deposit Money Banks for easy access to accredited Bank operatives.
- To provide a means of verifying signatories in inter-bank documents and transaction.
- To provide a means of performing update on existing signatories and to delete as the need arises.
- To keep an audit trail of all activities done on the portal.
The Electronic Pension Contributions Collection System (EPCCOS) is a web-based e-Payment Collections platform, developed by NIBSS in partnership with Pension Operators (PenOp) Association of Nigeria. The portal was designed to facilitate the remittance of employees’ Pension Contribution to their various Pension Fund Administrators in an organized and timely manner.
Hitherto, these remittances were done manually with schedules distributed to the various PFAs and payments separately to the PFCs often with reconciliation issues. EPCCOS manages this entire process end-to-end with prompt notification to all parties namely the employers, the PFA and the PFC.
EPCOSS has greatly assisted employers comply with the Pension Reform Act guideline stipulating that employers must remit employees’ Pension Contributions within 7 days of staff salary payments.
This is a web-based document management system that facilitates the dispatch and receipt of documents electronically (e-documents) amongst users, particularly Deposit Money Banks, within the Nigeria Banking System.
Regulatory guidelines specify that some categories of customers have to be referenced by other account holders within the banking industry before such accounts can be opened. Hitherto, hard copy, paper based reference forms were sent from various bank branches to other banks’ branches thus creating a documentation glut and unnecessary delays at banks with attendant customer service failure.
The E-reference portal facilitated this entire process with the press of a button.
The Nigeria Identity Document Verification Service was conceived as a way of unifying access to the various and relevant identity schemes in Nigeria for ease of verifying the authentication of identification documents.
The service commenced by providing access to the Nigeria Immigration database to facilitate the banks’ validation of customer’s international passports provided as a means of customer identification for account opening and other purposes. This service is currently called the electronic Passport Verification (e-Passport) Service.
Future phases of the Nigeria Identity Document Verification Service would include integration with the database of FRSC and INEC for the validation of Driver’s Licenses and Voter’s Cards respectively.