191 financial institutions now have seamless access to National Identification Authority Data

The National Identification Authority (NIA) has confirmed that a total of 191 financial institutions, including Universal Banks, Rural Banks, and Savings and Loan companies, have successfully integrated into its data system.

Prof. Kenneth Attafuah, the Executive Secretary of the NIA, revealed in an interview on the Citi Breakfast Show that these institutions can now efficiently verify the identities of clients, facilitating fund transfers from bank accounts to mobile money wallets.

This development comes in response to public concerns regarding fees incurred for transferring money between bank accounts and mobile money wallets with identical details.

John Awuah, head of the Ghana Association of Bankers, attributed these fees to inconsistencies in Ghana Card details between mobile money (MoMo) and bank accounts.

However, Prof. Attafuah dismissed the notion of inconsistencies, emphasizing that the shared information includes crucial details such as names, birth dates, gender, and nationality, leaving no room for discrepancies.

Addressing the issue, Prof. Attafuah stated, "I can tell you that the Bank of Ghana, all 24 universal banks in the country, 145 rural banks in Ghana, some savings and loans companies, about eight of them, and some centers, approximately 14 have been onboarded unto the NIA’s personal verification system platform enabling these institutions to verify the identities of persons who transact business for them in real-time."

He further clarified the nature of the information shared.

"As agreed with their regulator, that is the Central Bank, we give them personal information that a client is required to give for KYC [Know-your-customer] and in fulfilment of the bank’s anti-money laundering rule. So the personal information that we give includes the surname, the first name, the previous name, date of birth, gender, nationality, residential address, digital address code, and telephone number."

NAY/NOQ