Maybank offers biometric authentication in mobile banking app
Malaysian financial services firm Maybank is now offering a biometric authentication option through its Quick Touch service on the Maybank2u mobile banking application, according to a report by New Straits Times Online.
The biometric authentication service allows customers to access their accounts and check their balances by fingerprints on their mobile devices for authentication.
Maybank said the new biometric authentication service is part of its overall strategy to reinforce its digital offerings and meet customers’ demand for increased convenience and transaction speed.
The new biometric authentication option enables users to access their accounts 70% faster than typing the traditional six-digit PIN, said the company.
More than 500,000 balance inquiries are performed monthly, which would require customers to enter in their PIN each time they needed to access their account, said Hamirullah Boorhan, Maybank head of community financial services for Malaysia.
“Given this large proportion, we felt it was critical to enhance our customer experience by offering our users speedier access to their accounts,” said Hamirullah. “With the introduction of Quick Touch, we are targeting to grow our Quick Balance user base by 20 percent by year-end.”
Quick Touch is now available on iOS devices with fingerprint capabilities, including the iPhone 5S, iPhone 6, iPhone 6 Plus, iPad Air 2, iPad Mini 3 and Apple Watch.
The Maybank2u portal has over 7.8 million registered users who access the banking portal via personal computers and mobile devices.