NIBSS infrastructure connects all banks in Nigeria to facilitate electronic payments and inter-bank transfers. It is responsible for enabling instant transactions and providing secure switching, settlement, and identity verification services for the country’s financial institutions. The organization is responsible for the standardization and certification of POS devices.
“The NIBSS certification process is extremely rigorous, requiring our FAP 20 solution to meet a range of criteria, including extensive fake fingerprint detection with high accuracy,” comments Joshua Chiu, Senior Vice President, Head of Sales South-East Asia at NEXT Biometrics. “Achieving this twice, with different stakeholders, shows the value of our solution to support financial inclusion and secure payments in Nigeria and around the world. Our engineers work closely with partners to shorten the development and deployment lifecycle to minimize time to market. The expected annual revenue for this product line is 1.4 MNOK.”
NEXT has received the initial mass production order, with a modest order value, which is scheduled for delivery in Q4.
The Active Thermal® technology embedded within NEXT’s FAP 20 ‘Basalt’ fingerprint sensor uses heat from the finger and 3D imaging to authenticate the user. This enables superior liveness detection to combat spoofing attacks, when compared with other fingerprint authentication technologies.
Over the last 25 years, NEXT Biometrics has shipped more than 10 million sensors. Its Active Thermal technologies are certified by entities including Aadhaar, FBI-PIV, MOSIP Compliance and NIBSS, and have been implemented in countries including Bangladesh, China, Ghana, India, Malaysia, Pakistan, U.S. and Vietnam.
For more information about NEXT Biometrics’ FAP 20 solutions, visit our website and contact [email protected].