Meaning of BVN involves two different things which are the full meaning and its uses.
BVN means (in full) Bank Verification Number.
While BVN is used to checkmate fraud and theft on individual bank accounts.
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More Information On BVN.
Bank Verification Number (BVN) is a scheme introduced by the Central Bank of Nigeria (CBN) to protect customers' transactions and enhance
confidence in the Nigerian banking sector. It involves identifying an individual based on physiological or
behavioural attributes, such as fingerprint, signature and others. The customers unique BVN is accepted as a means of identification across all the banking system.
The importance of BVN has grown as increased lapses have been identified on conventional security systems such as token, password and Personal Identification Number (PIN) of customers.
Labels: Bank Services