AVRUST Nigeria, and Covr Security, Sweden have entered into a strategic partnership to bring secure digital identity solutions to banks, Telcos, and healthcare providers in Nigeria.
As digital transformation initiatives gain momentum in critical industries like financial services, telecom, and healthcare, it becomes vital that customers’ identities and personal data are protected and kept in a secured environment for continual access to
services in these industries.
An increasing number of people are working from home due to the COVID-19 pandemic, which leads to increased e-banking, e-wallet, and healthcare-related transactions daily.
Consequently, the use of digital apps has escalated, and in the wake, identity theft, data breaches, and fraudulent transactions have increased to alarming levels
To prevent severe damage to the economy due to these types of attacks, AVRUST Nigeria will now provide secure digital identity solutions from the Swedish cybersecurity company Covr Security.
The founders of Covr Security were instrumental in the inception of mobile BankID in Sweden.
Read also: Nigeria strives to bridge security loopholes, catch up to advanced global digitalization
This groundbreaking identity solution has been adopted by over 99 percent of the Swedish population of 10.2 million people.
Mobile BankID is used for identity authentication and transaction authorization in over 3,500 services in Sweden, including government services, shopping, merchant payments, and day-to-day money transfers and transactions.
Covr Security’s digital identity solution is built on military-grade technology and consists of powerful eKYC options, including biometrics (facial recognition with liveness).
The secure authentication/authorization features provide governments, banks, Telcos, and healthcare organizations with authenticated customer identities and repeat authentication and transaction authorization repeatedly with the same, verified identity.
This could be for making payments securely for online and offline purchases, ATM transactions, paying utility bills and government taxes, etc., securely and safely.
Commenting on the partnership, Felix Unachukwu, AVRUST Nigeria CEO, said “Nigeria is seriously doing catchup with the rest of the world on digital economy and for this to grow, a secured digital identity solution is imperative. Covr security is eager to replicate Swedish experience in Nigeria digital space and we are pleased to be part of this great impact.”
Covr Security’s co-founder and CIO Peter Alexanderson said, “We are pleased to partner with AVRUST Nigeria and be a part of their amendable efforts to create a secure digital eco-system that will benefit the citizens of Nigeria.”
