A few weeks ago, we sent out a survey.
According to the feedback from you, there were pertinent questions surrounding why we, a non-banking institution require sensitive information like your Bank Verification Number.
These concerns even caused some users to drop off at the sign up process.
In this post, we will clarify why this information is important to us, and for you, an account holder.
So why exactly do we need your BVN?
We require your BVN as part of a wider AML/CFT (Anti Money Laundering/Countering the Financing of Terrorism) framework, that we Investment One Financial Services, adhere to. To use Ziing, a platform provided by us, we require that this standard is upheld equally.
This particular requirement, while not enforced as a prerequisite to opening an investment account, is a necessary standard in the industry that we uphold.
We also use your BVN to validate your account numbers and this further ensures that your withdrawals are seamless, secure and swift.
To this effect, we have revamped our sign up process. This is to give you access to the app to further explore your investment options. You will however not be able to fund your account till you have provided your BVN.
We hope that by addressing your concerns, we can finally embark on a journey, one rife with opportunities and the ultimate goal of helping you take control of your finances.
We’ll be sad to see you go should you still decide to discontinue your registration with us.
Do have a lovely day
The Ziing Team.