Your Bank Verification Number is the backbone of how we keep your Capitalwise account secure and compliant. Here's exactly what we do with it.
Verify your identity
Your BVN lets us confirm you are who you say you are — without you uploading a stack of paperwork.
Check your credit history
We use your BVN to look at your credit profile so we can offer you the right loan products at fair rates.
Comply with CBN regulations
Capitalwise is a CBN-licensed Tier-3 microfinance bank. Collecting BVN at onboarding is required by law.
Prevent fraud & identity theft
Pairing BVN with our security checks makes it much harder for anyone to open an account in your name.
Your BVN is encrypted at rest, never shared with third parties beyond the regulatory uses required by law, and only used internally for the four purposes above.
Capitalwise is licensed by the Central Bank of Nigeria and your deposits are insured by the NDIC.