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Identity management will curb crime in financial sector , others by over 90% — ZKTeco Founder

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By Peter Egwuatu

AS part of measures to eliminate financial and other illicit  acts in the financial sector (capital and money markets, pension funds) and other sectors of the economy, the public and private sectors players have been encouraged to embrace Identity Management technology to the fullest.

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Founder/CEO, ZKTeco, John Chi, stated this at a press briefing in Lagos, weekend, stressing that to curtail  fraud in the financial sector and other illicit acts such as terrorism financing in Nigeria to a very significant level, government must integrate the various identity management schemes.

He stated: “There should be the integration of Biometric Verification Number, BVN, National Identification Number, NIN, Driver Licence Number, etc. in your system so that when a person is travelling and presents its documents at the airport or any other places everything about the person will show in the system. By this way there would not be a hiding place for fraudsters.

“All operators in the financial sector, be it capital, money markets, pension, insurance, etc. should embrace technology to improve on their productivity and this will help reduce crime significantly by over 90 percent.

“With the rapid development and innovation of technology, ZKTeco has always been at the frontline of biometric verification core technology, constructing business ecosystems with platform thinking, leading the banking development with IoT+ Internet ideas, and striving to be the paragon of the industry.”

He further disclosed the proposed plan to sign a Memorandum of Understanding, MoU with the University of Lagos to set up the first Africa’s Design Thinking Library for Identity Management.

According to him: “ Nigeria was considered to act as hub for the rest of Africa because of the country’s strategic position on the continent, including its population, the market size, the GDP, as well as the government’s efforts to transform the economy via its diversification agenda and encouragement of foreign investments. Along with the office will be the establishment of an Research and Development, R&D centre at the University of Lagos to take advantage of the abundant local talents to create solutions that can runonZKTeco platforms.

According to him, “This will be the first of its kind in Africa. Our development strategies are: Enterprise level biometric authentic entrance control and security management, biometric authentic parking safety management, and biometric authentic passenger and luggage inspection,

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“The public awareness and prevention of terrorism, violence and child safety is getting critical at all levels. More and more enterprises should pay attention to security management including employees and non-employees, students, vehicles, products and goods. ZKTeco is dedicated to be a total solution supplier providing complete authentic biometric surveillance system for small and medium size enterprises.”

Vanguard

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