April 10, 2015 -
South African financial institution Standard Bank has launched a biometric mobile banking application using Apple’s Touch ID technology, making it the first solution of its kind in the country.
“We are always on the lookout for ways to make banking easier and safer for our customers,” said Magnus Taljaard, head of mobile banking at Standard Bank. “With the latest upgrade to our banking apps, customers with Touch ID enabled smartphones and tablets have the option to use Apple’s fingerprint identity sensor to sign into our mobile banking apps. This gives the promise of ‘banking at your fingertips’ an added dimension.”
The bank underwent “rigorous testing” for its new biometric identification feature to ensure a safe and robust solution for customers, said Taljaard.
In addition to signing in using the fingerprint sensor, customers will also be able to use the authentication method for certain transactions, such as paying a new beneficiary.
Standard Bank will also extend the feature to those Android phones with fingerprint sensors in the near future.
The new biometric-enabled app comes at a time when many international banks have introduced similar features to their apps.
Juniper Research recently projected the number of global downloads of biometric-enabled apps will reach the 6 million mark this year.
Previously reported, Belvoir Federal Credit Union announced that its mobile banking application now supports biometric authentication technology for certain Apple iOS devices via the Touch ID fingerprint reader.