Leveraging Trust for Better Digital Transformation [Lagos]
Posted by Guest Blog
in Events

Guest Post by Luqman Balogun, Divisional Director (Africa) Daon

Lagos is a megacity and a major financial hub in Africa. It is the location of choice for some of the biggest financial institutions on the continent, a budding fintech industry, and Daon too. 

Just over a week ago, we hosted our very first Biometric Identity event in Lagos where bankers and solution vendors converged from the financial services and telecom sectors including FirstBank, EcoBank, StanbicIBTC and UBA. 

A significant challenge in the market is identity verification which also impacts financial inclusion. The banks launched Bank Verification Number (BVN) in 2014 to address this challenge but customer enrollment is done through physical locations. In addition, transaction authentication is mostly PIN and password-based with some on-device biometrics mixed in. 

It was clearly established that there are opportunities for digital onboarding, which allows customers to register through mobile or web channels, strong multi-factor authentication for omni-channel platform and voice biometrics in the call center, which eliminates the need to speak to an agent or use KBA to verify your identity. 

The event provided great discussion, presented a vista of opportunities, and left our guests with a general realization that if banks want to innovate and simultaneously reduce fraud, authentication of users across multiple platforms/channels is a business imperative. In the two years that Daon has been operating in Africa, we’ve seen tremendous growth as more banks move toward digital transformation and seek a competitive edge by embracing innovative technologies.

Lagos Clive
Clive Bourke, President of EMEA & APAC, demonstrates Daon’s Universal platform for multi-factor authentication 

Lagos Attendees
Left to Right; Manoj Mudgal (Senior VP and Business Head - IsonBPO), Osagie Bright (Manager, IT- Ison BPO) and Sandra Enwezoh (Manager, Product Sales, Mastercard)

Lagos Clive1
Left to Right; Clive Bourke and Manoj Mudgal 

Lagos Group
Left to Right; Luqman Balogun (Daon), Vivien Agu (Head Contact Center Service Management FCMB), Clive Bourke, Lola Akinsola (Contact Center - Consumer Client Experience Management EcoBank), Olufemi Kolade (Daon)​

Lagos Luq
Luqman Balogun and Thessa Bagu (Representative - Enterprise Ireland)

If you are interested in joining us for our next seminar and would like information on future events, please contact us at info@daon.com.