OPay, the digital banking platform boasting over 40 million registered users, has strategically eliminated its bank account verification feature.
This move follows revelations of a technical glitch that enabled users to exploit the system, posing a risk of unauthorized account creation using other people’s identities, including those of celebrities.
The now-removed identification method, designed to streamline the verification of Bank Verification Numbers (BVN), had inadvertently created a vulnerability.
OPay clarified that the bank account verification was initially introduced to facilitate a more convenient authentication of BVN, particularly in cases where users may have forgotten their BVN.
The process involved biometric validation, cross-referencing the user’s face with the BVN database, and an OTP (One-Time Password) verification to ensure authenticity.
OPay emphasized its commitment to aligning with the Central Bank of Nigeria’s (CBN) guidelines, particularly the recent mandate for BVN/NIN verification for Tier 1 users.
The company addressed the observed technical glitch, emphasizing that it was exploited in a way that compromised security.
With the removal of the bank account verification feature, OPay aims to bolster its security measures and uphold the integrity of its user authentication processes.
