HSBC have now released in their mobile app the ability to sign in with biometrics. As widely reported (IBT, BBC, FT...) it is now possible to log in to your HSBC mobile banking application using fingerprint technology and voice recognition.
Passwords have long been considered insecure, or rather the passwords that we humans choose are insecure. The problem that we are all familiar with is having a plethora of different passwords for different sites and services means that you cannot remember all the different randomly generated strings that you should be using. Techniques that people employ instead are to use the same password for many different sites, use easy to remember passwords for different sites, or use a password manager to store your passwords protected by a single password. Each of these are inadequate in their own way, but we have not had a better solution to use. Until now.
With the advent of fingerprint technologies on devices, the banking industry clearly sees this and other biometric technologies as a safer and more secure mechanism than relying on customers to protect and use their passwords correctly. HSBC are not the first to use biometrics with Barclays using finger vein technology for their business customers since 2014 (FT, BBC).
Banking is clearly moving into the 21st century and adopting new and emerging technologies to provide their customers with better, more secure and more convenient services. This can also be seen in the communications and collaboration sector.
CafeX Communications has been working with various global banks for the last few years in bringing them closer to their customers by delivering on the promise that video calling and web collaboration technologies have been espousing for the last few years.
Working with the banking sector across the globe, from the US to Europe to Asia and Australasia, we are helping banks to virtually go to the customer as opposed to the customer going to the bank. By enabling remote communication and collaboration with your bank, you will be able to discuss your mortgage requirements, investment criteria, account opening or transaction disputes at a time that is convenient to you and at a location that is comfortable for you.
Banks are moving into the 21st century, and we are helping them to do it.