HooYu technologies to verify customer identity for challenger bank Countingup

HooYu has partnered with challenger bank Countingup to verify customer identity in the account opening process. Countingup is an UK challenger bank that equips its customers with a unique commercial banking app to help business owners with accounting, VAT returns, profit and loss reports, invoicing and machine learning bookkeeping technology. Customers are able to open an account on their smartphone in five minutes. HooYu technologies such as identity database checks, ID document validation, facial biometrics, PEPS and Sanctions screening, digital

Kony expands partner ecosystem with digital banking marketplace

Kony is expanding its global partner ecosystem with fintech solutions featured in the Kony Digital Banking Marketplace. A one-stop shop for pre-built fintech components, integrations and templates, the Kony Digital Banking Marketplace helps banks and credit unions reduce the cost of maintaining digital banking applications, speeds up development of new projects, and allows access to some of the most leading-edge and innovative digital solutions in the market. According to Burley Kawasaki, executive vice president, products, Kony, Inc, the Kony Digital

CBA adds Face ID authentication option to mobile banking app

The Commonwealth Bank of Australia (CBA) has updated its mobile banking app to support Face ID, the facial authentication feature integrated in Apple’s new iPhone X, according to a report by ZDNet. “Our customers use secure fingerprint logins on the CommBank app about 30 million times a month,” CBA executive GM of Digital Pete Steel commented Friday. “Extending that functionality to Face ID is part of our ongoing work to provide a better banking experience to our customers through simple,

CO-OP Financial Services adds biometric security to mobile banking app

CO-OP Financial Services has released Mobile Banking 3.0, the company’s new mobile banking app with new security features including Touch ID authentication capabilities. Available for the CO-OP Mobile custom-branded credit union app and the Sprig by CO-OP turnkey mobile banking app, Mobile Banking 3.0 upgrades include Touch ID authentication and expanded payment options that make transactions fast, secure and seamless for members on the go. “Top of mobile is top of wallet today as consumers expect to be able to

This bank in Thailand enabled biometric access for their mobile app

Passwords have long been an outdated form of authentication, and are often the weak link in an otherwise solid security process. The world’s most popular password is 123456, with the second being 123456789. Ouch. Mobile devices are now being developed to include a new form of authentication related to biometric data. In short, the technology allows you to unlock your device via your fingerprint, voice, facial contours and even your iris pattern. When it works, it’s a neat way to

Javelin report explores impact of IoT, biometrics on financial services

Javelin Strategy & Research has published a new whitepaper that discusses how the Internet of Things (IoT); connected payments from IoT devices; and new banking technologies, such as biometrics, are affecting the financial services industry. Published in association with PSCU, “The Credit Union Guide to Opportunities in IoT, Biometrics and E-commerce” projects there will be over 50 billion connected devices employed worldwide by 2020, which represents a massive opportunity for credit unions. The paper also gives insight into the future

ICBC deploys FacePhi technology for mobile banking authentication

FacePhi announced a new contract this week with the Industrial and Commercial Bank of China (ICBC). ICBC will deploy FacePhi’s facial recognition technology, Selphi, to authenticate clients using the Chinese multinational banking company’s mobile app. ICBC Argentina will be the first bank in the country to implement facial biometrics in mobile banking. As of February 2017, ICBC is the largest bank in the world by total assets and the most valuable bank in the world by market capitalization. Earlier this

Humaniq demonstrating biometric wallet app at Consensus 2017

Blockchain technology startup Humaniq is conducting a live demonstration of its Ethereum-based blockchain banking app at CoinDesk’s Consensus 2017, this week at the New York Marriot Marquis, according to a report by Econotimes. Designed for both iOS and Android users, Humaniq’s Mobile Wallet provides users with quick access to their balances as well as transactions with other users/merchants. The app manages private and public keys for the user, which are used to authorize transactions locally. Humaniq also offers an API

Santander adds voice authentication to mobile banking app

In an effort to provide a friction-free user experience, Santander banking clients will soon be able to access their bank accounts and authorize payments using just their voice. According to a Sky News report, Santander’s recent update to its iPhone SmartBank app makes it the first UK high street bank to employ voice biometrics technology to allow customers to carry out actions on their account, not just as a login tool. The new technology is currently being piloted on the

VASCO demonstrates selfie-based authentication solution at Finovate Europe

VASCO Data Security International is demonstrating a selfie authentication, fraud analysis and e-signature solution to more than 1,500 fintech innovators today at Finovate Europe 2017 in London. The Smile & Sign solution leverages core pieces of VASCO’s DIGIPASS for Apps, a library of APIs that natively integrates application security, biometric authentication, risk analysis and the eSignLive mobile SDK. “Consumer desire for convenience, ease of use and anytime, anywhere transacting is driving organizations to take a mobile-first approach to business,” said