Identy.io says it is targeting the processing of one billion biometric identity verification transactions in Nigeria over the coming years.
The company said rising demand for secure digital identity systems across banking, telecommunications and public services is creating new opportunities for biometric authentication, particularly as financial institutions strengthen anti-fraud and compliance measures.
Speaking at an executive roundtable on mobile biometric innovation in Lagos, chief executive officer of Identy.io, Jesus Aragon, said Nigeria’s rapidly expanding digital financial services sector requires scalable and reliable identity verification tools to support customer onboarding and transaction security.
He said the company’s mobile biometric platform allows users to verify their identity directly on smartphones without external devices, scanners or centralised infrastructure, while supporting fingerprint and facial recognition in low-connectivity environments.
According to Aragon, the platform integrates with Nigeria’s Bank Verification Number system and the Nigeria Inter-Bank Settlement System, enabling financial institutions to carry out secure remote authentication.
He added that the solution includes liveness and deepfake detection capabilities designed to identify fake fingerprints, manipulated images, masks and other fraudulent attempts during onboarding.
Aragon said biometric data captured during authentication remains stored on users’ devices rather than being transmitted to external servers, reducing exposure to cyber threats and data breaches.
Stakeholders at the roundtable discussed growing regulatory pressure on Nigerian banks following stricter Know Your Customer requirements and fraud prevention directives introduced by the Central Bank of Nigeria.
Participants said agency banking operations in rural and low-connectivity areas continue to face onboarding and security challenges, increasing demand for stronger authentication systems.
Aragon said biometric authentication could significantly reduce fraud linked to passwords and one-time passwords, offering stronger identity assurance for digital transactions.
The company also confirmed plans to expand its African operations, with an active presence in Nigeria and Kenya.
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