Next-of-Kin Management Software and APIs for Nigerian Banks: What to Look For
Most banks collect a next of kin at account opening and never look at it again. Next-of-kin management software keeps that record current, consented and ready to use. Here is what it should do and how to choose one.
The problem with a form in a file
A next of kin is usually written down once, at onboarding. Phone numbers change, families move and the customer may not remember who they named. When the bank needs the record, whether for a quiet account or a regulator’s question, it is out of date or cannot be found.
The CBN’s dormant account guidelines, as commentators summarise them, expect institutions to try to reach holders or their beneficiaries and to keep records of the attempts. PenCom’s data recapture asks pension administrators for the same discipline with contributor and next-of-kin details. See our guides to CBN dormancy for banks and fintechs and PenCom next of kin.
What next-of-kin management covers
- A register. One record per customer of the people to contact, with relationship and channel.
- Consent. Who agreed, when, and to what.
- Refresh. Scheduled prompts to confirm or update the details.
- Contact rules. When the bank may reach the named person, and in what order.
- Audit records. A log of every contact attempt and decision.
Buying checklist
- Does it store a consent record for every named contact?
- Can it prompt customers to refresh details on a schedule?
- Does a person review any disclosure to a third party before it happens?
- Is there an API with signed webhooks, and a sandbox to test in?
- Can it start from activity data you already hold, such as logins and transactions?
- Does it export audit reports your compliance team can read?
- Where is the data hosted, and can that be set in the contract?
- Does it handle information only, with no movement of money?
Technical teams can read how an inactivity tracking API works and how to verify signed webhooks. For a ranked comparison, see next-of-kin API providers.
A simple way to start
Pick one product line, such as savings accounts. Ask new customers for a consented contact, send existing customers a one-tap refresh and log every attempt. After 30 days, count how many records are now complete and current. That number is your baseline.
More reading: inactivity monitoring software and a vendor checklist for Lagos teams.
Common questions
What is next-of-kin management software?
Software that records the people a customer wants contacted, stores the customer’s consent, keeps the details current and lets the institution reach those people when it needs to. It goes further than the next-of-kin box on an account opening form.
Why does a bank need it?
The CBN’s dormant account guidelines, as commentary summarises them, expect institutions to try to reach account holders or their beneficiaries and to keep records. That is hard when the only next-of-kin record is a paper form from years ago.
What does managing next-of-kin data through an API mean?
Your systems send customer references and consent records to the provider, and receive status and events back, usually through signed webhooks. Staff do not re-key data between systems.
Is it the same as KYC?
No. KYC confirms who the customer is. A next-of-kin register records who the customer wants contacted, and when it is acceptable to contact them.
Can the software release money or change an account?
It should not. Good products handle information only and leave payments and account changes to the institution, with a person reviewing any disclosure.
General information, not legal advice. Check the current CBN and PenCom text before you change a process.