4 Hot Mobile Banking Security Developments

Integrated biometrics and specialized mobile banking apps are working in tandem to bring two major benefits to financial institutions and their customers.

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You Can Put Your Finger on It

Touch ID, the biometric centerpiece of Apple's latest smartphones, has found its way into everyday consumer banking. When the Cupertino tech giant released the API for Touch ID, its fingerprint-authentication technology a few months ago, financial services companies pounced.

Charaka Kithulegoda, Tangerine Bank's CIO, told American Banker that Touch ID provided exactly the technology Tangerine has been waiting 12 years to see. Accordingly, Tangerine has joined numerous other financial institutions, including American Express, BBVA, Citigroup, Discover, JPMorgan Chase, and � as of this past week � the Royal Bank of Scotland in implementing fingerprint authentication for mobile banking services.

Apple is not the only belle at the mobile-banking ball. Westpac New Zealand, for instance, has developed apps for mobile fingerprint scanning on Samsung devices.

(Image source: Chris Isherwood via Creative Commons license)

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