The Nigerian Inter-Bank Settlement System (NIBSS) statistics shows that the banking industry lost N259.02 million to fraud in 2017. This statistics is for across-the-counter transactions involving document banking instruments only. This represents a 28% rise when compared to the previous year in that industry alone. In a paper published by the European Centre for Research Training and Development, UK on “Fraud Prevention and Business Performance in Quoted Companies In Nigeria”, it is opined that “While public concern is growing by the day and management vigilance improving with the aid of computerization, it is on record that millions of naira are still lost to fraud and forgeries”
Landmark positive advancements in technology have inevitably brought with it an almost commensurate advancement in nefarious activities which encompass all spheres of the economy. Document and other instruments of value now require specialized security features that protect them from the technologically sophisticated global market of forgery, cloning, counterfeiting and identity theft in all sectors of the economy as is prevalent in 21st century Nigeria.
Our solution is aimed at eradicating unauthorized transactions and blocking illegal loopholes in the system, it authenticates instruments of any form as being certified originals; this in turn will exponentially help increase revenue and assure the integrity of any system where it is deployed.
tru-DATA is our proprietary solution that offers a powerful encryption technology for positive identification, verification and protection. It is a potent technology for the elimination of document forgery and counterfeiting by up to 99.9%. tru-DATA simplifies the process of vetting, verification and authentication within an all-inclusive secured application environment.
This solution offers great value to corporations and institutions.
The encrypted code is created by a High Definition Barcoding System and is embedded and stored on the printed document itself, creating a unique identification marker on the document. This makes original certificates and documents absolutely impossible to replicate or hack because the data (to be hacked) is physically present on the printed document and instantly verifiable from an online encrypted server. This double edged instant verification process is quite, unlike the ubiquitous open source QR Coding or other similar technology.
Trudata is ideal for:
- Promo Cards
- Identity / Access Cards
- Secure Documents