April 9, 2015; Johannesburg. Standard Bank has introduced a biometric mobile banking solution that allows Apple iPhone and iPad users to use their device’s fingerprint scanner to sign into the financial service’s company’s mobile banking application.
The update makes use of the TouchID functionality built into the iPhone 5s and the iPhone 6 and 6 Plus as well as the iPad Air 2 and iPad Mini 3.
According to Standard Bank, a number of international banks have already introduced similar features into their apps. Quoting Juniper Research, the bank says global downloads of biometric-enabled apps will hit the 6m mark this year. This figure, it says, will increase to more than 770m downloads per year by 2019.
The bank’s head of mobile banking, Magnus Taljaard, says in a statement that the new biometric identification feature underwent rigorous testing in order for the company to ensure a “safe and robust solution”.
“The ability to sign in using the fingerprint sensor is also combined with an additional security layer for certain transactions — for example, when paying a new beneficiary,” Taljaard says.
Standard Bank plans to roll out the feature to Android phones with fingerprint readers in the “near future”.
The company says it’s now handling about R10bn/month in transaction value through its banking app.
TechCentral
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