September 6, 2016 -
In an effort to simplify and speed up the process of opening a new account using a mobile or digital device, HSBC business customers can now open new accounts by using a selfie to verify their identity.
The bank’s mobile app uses facial recognition software to compare a headshot of a client against verified photo ID uploaded by the customer, such as a driver’s licence or passport.
“Through simplifying the ID verification process, we’ll be able to save our business customers time and open accounts quicker,” said Richard Davies, HSBC’s head of global propositions for commercial banking, in a statement published this week.
“We also expect the convenience and speed of a selfie to become the verification method of choice for our customers, who no longer need to visit a branch to complete the process.”
Just last month, Paco Garcia, CTO at Yoti, authored a guest post for BiometricUpdate discussing how biometrics are shaping the future of digital banking.