BMO becomes the first major financial institution in Canada to integrate Touch ID into its banking app.
BMO customers will be able to access all their account information by using Apple’s fingerprint identification technology. Users can then transfer funds between their accounts; pay bills; find nearest ATM branches.
Canada has been at the forefront of payment technology adoption. In December last year, Royal Bank of Canada became the first financial institution in North America to adopt NFC technology. Large companies such as Apple and Dell use the country to test their latest products before launching them in the rest of the world. Furthermore, country has five mobile networks that allow Canadians to pay on their mobiles.
“Recognizing that today’s customers already have many passwords to remember, the integration of Touch ID makes mobile banking a touch smarter and more secure by enhancing and simplifying the user experience for our mobile banking customers.” said Cesar Rainusso, Vice-President, Digital Channels, BMO Financial Group.
Mastercard is working with Stripe to expedite the payment process for American sellers on the latter's marketplaces using the instant payouts feature from Stripe.
Lloyds has launched biometric finger print authentication for mobile banking.
Barclaycard has partnered with Case Station, a company that makes personalised phone cases, to embed contactless technology in the latter's smartphone cases.
Digital challenger bank, N26, which has been live for one and a half years and has more than 200,000 customers, rolled out a new feature that allows its customers to transfer money using Siri. All they have to do is talk to it.