First Internet Bank (FIB) is now offering Eyeprint ID verification technology within its mobile banking application, allowing customers to access their bank account with a smartphone camera and an ‘‘eyeprint’’ instead of a username and password.
‘Eye catching’ application
FIB joins a select number of banks that have integrated biometric technology within its payment applications. Available for iOS and Android smartphones, customers can now access their First IB personal banking mobile app by using an image of their eye.
Eyeprint ID captures an image of the user’s eye and identifies the unique vein pattern that authenticates each customer – a feature which could potentially cut down on the number of security breaches that are commonplace within the mobile banking industry.
‘‘Eyeprint ID is the latest demonstration of First Internet Bank’s commitment to customer-centric digital banking,” said David Becker, president and CEO for FIB.
‘‘Eyeprint ID comes quickly after our introduction of Touch ID authentication earlier this year, which enables customers to log in with a fingerprint. Biometric technology allows us to provide innovative solutions to our customers’ need for secure, convenient account access.’’
FIB becomes one of the few financial institutions to use eye-specific biometric technology to improve its banking application. However a number of tech and e-commerce firms have explored the possibility of using biometric technology for its consumer base.
In March, Payment Eye reported that Jack Ma, founder of e-commerce giant Alibaba is ‘‘looking into’’ the possibility of using facial recognition software to pay for items.
“Smile to Pay”, which is currently in beta mode, is being developed by Alibaba’s financial affiliate Ant Financial for use with the company’s Alipay online payment service and Alipay Wallet.
In May, Japan-based mobile phone makers Fujitsu unveiled a new smartphone that allows users to make payments by scanning their irises. In partnership with telecommunications firm NTT Docomo, the NX F-04G smartphone became the world’s first smartphone that came equipped with a built-in iris scanner.
It seems laptops are about to catch the biometric fever as PayPal, Intel, Lenovo and Synaptics are collaborating to introduce FIDO-enabled embedded fingerprint solution to PCs.
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.