Standard Bank has launched a biometric mobile banking solution for clients signing into the bank’s app via iPhone or with an iPad, using Apple’s TouchID technology.
“With the latest upgrade to our banking apps, customers with Touch ID enabled smartphones and tablets have the option to use Apple’s fingerprint identity sensor to sign into our mobile banking apps,” said Magnus Taljaard, head of mobile banking at Standard Bank.
Claiming it to be a first in SA, the bank says it plans to roll out this feature to biometrically-enabled Android phones in the near future.
A number of international banks have introduced similar features to their apps and, according to predictions by Juniper Research, global downloads of biometric-enabled apps will hit the 6 million mark this year.
That figure will increase to more than 770 million downloads per year, by 2019 – a clear indication that biometric solutions are rapidly being adopted by the mobile community, Standard Bank said.
“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,” said Taljaard.
Standard Bank said that customers use it’s banking app more than twice a week on average, and since the launch of it’s third generation smartphone app, an average of 65,000 customers have registered every month.
Over the past ten months, value transactions processed through the app doubled to more than R10 billion per month, the bank said.