Bank of America has made a series of upgrades to its mobile and online banking services, including the introduction of fingerprint scanning and Touch-ID sign in. It has also made the banking app compatible with the Apple Watch.
The Bank becomes the latest in a long series of financial institutions to embrace biometric technologies. The new fingerprint and Touch ID sign-in capabilities will allow eligible Android, iPhone and iPad customers to sign-in and be authenticated faster than had they used older methods of verification.
BoA says the technology supporting fingerprint sign-in was built according to FIDO (Fast IDentity Online) standards.
The mobile banking app is now compatible with Apple Watch, and it will allow users to view account balances and recent transactions for their linked checking, savings, credit card and investment accounts, as well as receive real-time alerts and notifications on their wrist.
The app now also features a security centre that will allow users to have more control over their finances. There are now additional ways of signing in and monitoring their finances. For example, sustomers can now manage their digital banking security settings in one place, and can opt into an extra security feature at sign-in that helps verify the customer’s identity with a one-time authorization code sent via text or email each time they sign in.
“We continue to deliver enhancements that provide our customers a more seamless and secure banking experience,” said Michelle Moore, head of digital banking at Bank of America.
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.