The Nigerian Inter-Bank Settlement System (NIBSS) statistics shows that the banking industry lost N259.02 million to fraud in 2017. The statistics is for across-the-counter transactions involving document banking instruments. This represents a 28% rise when compared to the previous year in that industry alone. In his paper on “Fraud Prevention And Business Performance in Quoted Companies In Nigeria”, Thankgod C. Agwor (Phd), 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”
The above scenarios are reflective of the menace of the technologically sophisticated global market of document forgery, cloning and counterfeiting in all sectors of the economy that has become prevalent in 21st century Nigeria, this manifests in:
- Increase in number of Forged and Counterfeit Documents
- Lack of reliable Secured Media/Platforms for document verification
- Compromised Officials handling secure documents
- Long/cumbersome processof verification
We are pleased to introduce tru-DATA Solution. This solution offers great value to corporations and institutions. tru-DATA is a proprietary solution that offers a powerful encryption technology for positive identity and document verification and protection. It is a potent technology for the elimination of forgery and counterfeiting by up to 99.9%. It is designed for all processes that require vetting, verification and authentication.
Our solution is ultimately aimed at eradicating unauthorized transactions and blocking illegal loopholes in the system; this in turn will exponentially help increase your company’s revenue and help assure the integrity of processes and system.
tru-DATA is Nigeria’s first Automated True Identity Verification Platform, it encrypts and presents data on any document type through a secure mobile interface, such, that it is impossible to alter the original information on the document.
tru-DATA is a user-friendly mobile and web application that is developed to authenticate documents, eliminate counterfeiting and ease document verification processes. It implements a High-Definition coding system and technology that verifies and detects counterfeit documents in seconds. tru-DATA does not require Internet connection on the mobile application to verify the encrypted document.
tru-DATA is flexible and adaptable to industry-peculiar documents. It is designed for secure documents and all processes that require vetting, verification and authentication, such as, but not limited to:
- Promotional Cards
- Authority To Collect (ATC)
- Authorizing Documents
- POS Thermal Rolls
THE UNIQUENESS OF tru- DATA:
- The encrypted code is created by a High Definition Coding System and is stored and printed directly on the document itself. This ensures that the instrument cannot be replicated or hacked since the data in the HD Code itself cannot be changed. This is unlike the QR Coding technology which is an Open Source technology (available for everyone to use), where the encrypted code is stored on a physical server that offers no guarantee of the information on the document because it is prone to hacking.
- The QR code maximum size limit is about 3mb with a maximum of 7089 characters. However, tru-DATA’s HD Code can be up to 516mb with unlimited characters and variable file formats.
The Tru-DATA mobile technology solution does not require internet access to verify the document because the encrypted data, is already on the printed document.