The Executive Director, Operations and Information, Fidelity Bank Plc Gbolahan Joshua has advised data validation agencies and organisations to adopt appropriate policies that provide financial institutions with the required flexibility to utilise available customer data.
He gave the counsel during a panel session at the 10th anniversary celebration of Verve in Lagos, where he explained that would assist banks in the country drive new levels of customer engagements across digital channels and systems.
Joshua, alluding to the importance of data validation as a major driver in enhancing the Know Your Customer (KYC) policy, noted that harmonization of disparate databases will accelerate lending processes by banks.
“Digital identity is very critical in digital banking operations. Industry collaboration must be embraced by both financial institutions and database generating institutions to simplify digital banking operations,” he said.