In the face of growing cyber fraud, Olatoye Agboola, an expert in information technology and data analytics, has urged Nigerian digital banks and fintech operators to implement biometric Know Your Customer (KYC) and AI-driven fraud detection to boost security, enhance compliance, and gain customer trust.
Agboola pointed out that traditional rule-based fraud detection systems were unable to combat sophisticated schemes including account takeovers, identity theft, and synthetic fraud because millions of Nigerians increasingly transact through digital wallets, USSD, and mobile apps.
In an interview with our correspondent, Agboola, an IT specialist with training from New Jersey City University, provided the guidance.He revealed that when compared to document-based techniques, biometric KYC technologies like fingerprint and facial recognition may greatly enhance identity verification.
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