The Group Managing Director/Chief Executive,
He said the new identity/payment card will further usher Nigerians to first class payment solutions hinged on electronic transactions as a result of improved identity management in the country.
Speaking with journalists in
He said the launch of the card meant "quite a lot not just for access bank but for the entire banking industry. The national identity card scheme solves a lot of problems. First, it helps in what banks call know your customer (KYC) which basically identifies your customer.
"But it is more important than all of that; it helps reduce the negative biases people have about Nigerians just because there was no identity card and so anybody from anywhere can claim to be a Nigerian."
According to the
He said importantly, apart from being an identity card, it also serves as a payment card which supports an electronic card mechanism. He also allayed fears that the new national ID may likely render banks' debit cards redundant."
According to him: "ATM cards would always exist because you need a card to take money from the ATM as well. But what it (e-ID) does is that it cuts across the entire spectrum of the population to poor people who can now take their money on their cards."
Wigwe said: "We are excited by the challenge of maintaining our leadership status as the most innovative bank in
He added that the card would boost banking inclusion as it covers every Nigerian from birth to death irrespective of where they come from and where they live.
Further emphasising the benefits of the e-ID, he said: "We are coming from a situation where there is no proper identity- you have fake drivers' licenses, you had nothing. Now when all of these (biometric data from various sources) coalesce, it then means that truly you can find a single version of truth of what is your identity."
He said: "Because it is biometric in nature, if your name is
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
OCTOBER 31, 2014
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