As part of efforts to boost earnings and deliver value to all stakeholders, Chams Plc has launched a new innovative pensioner verification app, known as “I’m Alive”, which uses facial biometric technology to verify pensioners from the comfort of their homes.
The mobile app was designed to solve many identity verification challenges faced by government agencies, private and government pensioners and pension administrators nationwide.
Speaking on the development, the Group Managing Director, Chams Plc, Mr. Gavin Young, said: “Most private and government pensioners are required to verify themselves periodically so as to qualify for the next batch of monthly pension payments. Many pensioners travel long distances from their villages and rural locations, over multiple days and often at great expense, in order to verify themselves at local Government offices or their nearest bank branches, which can be some distance away. This is no longer necessary with the new Chams “ I’m Alive “ pensioner mobile app.”
According to him, our society, where the elderly are a treasured part of the family hierarchy and are respected members of their local communities, we need to ensure their safety, and particularly with such unique beneficial technology that allows for easy use, supported by Artificial Intelligence, to detect liveliness and pensioner authentication.
“At Chams, this is our way of contributing towards their continued longevity and improved quality of life. our “I’m Alive“ pensioner verification mobile solution is a perfect example of the kind of consumer digital solution we are focusing on at Chams. It combines the latest in innovation and technology with the ability to scale globally, whilst empowering Nigerians and improving the quality of life,” he said.
He explained that the first application is specifically geared towards pensioners and the company is working on a number of opportunities to implement the solution and its benefits into the private sector.
“We are looking to work with companies and public entities in Nigeria and Africa, to expand the application of this technology, particularly where non-obtrusive and convenient identity verification is required,” Young said.
Meanwhile, trading at the stock market remained bearish on continuing profit taking. Consequently, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) fell by 0.33 per cent to close lower at 25,497.32, while market capitalisation shed N44.3 billion to be at N13.3 trillion.
Activity level mixed as volume traded declined 0.8 per cent to 252 million shares while value traded advanced 0.8 per cent to N2.0 billion. The most traded stocks by volume were Custodian Investment Plc (40.1 million shares), FBN Holdings Plc (28.2 million shares) and Zenith Bank Plc (26.0 million shares).
