Security

04:35 PM
Joe Stanganelli
Joe Stanganelli
Slideshows
Connect Directly
Twitter
LinkedIn
Google+
RSS
E-Mail
50%
50%

4 Hot Mobile Banking Security Developments

Integrated biometrics and specialized mobile banking apps are working in tandem to bring two major benefits to financial institutions and their customers.
2 of 11

You Can Put Your Finger on It
Touch ID, the biometric centerpiece of Apple's latest smartphones, has found its way into everyday consumer banking. When the Cupertino tech giant released the API for Touch ID, its fingerprint-authentication technology a few months ago, financial services companies pounced. 
Charaka Kithulegoda, Tangerine Bank's CIO, told American Banker that Touch ID provided exactly the technology Tangerine has been waiting 12 years to see. Accordingly, Tangerine has joined numerous other financial institutions, including American Express, BBVA, Citigroup, Discover, JPMorgan Chase, and - as of this past week - the Royal Bank of Scotland in implementing fingerprint authentication for mobile banking services. 
Apple is not the only belle at the mobile-banking ball. Westpac New Zealand, for instance, has developed apps for mobile fingerprint scanning on Samsung devices. 
 (Image source: Chris Isherwood via Creative Commons license)

You Can Put Your Finger on It

Touch ID, the biometric centerpiece of Apple's latest smartphones, has found its way into everyday consumer banking. When the Cupertino tech giant released the API for Touch ID, its fingerprint-authentication technology a few months ago, financial services companies pounced.

Charaka Kithulegoda, Tangerine Bank's CIO, told American Banker that Touch ID provided exactly the technology Tangerine has been waiting 12 years to see. Accordingly, Tangerine has joined numerous other financial institutions, including American Express, BBVA, Citigroup, Discover, JPMorgan Chase, and as of this past week the Royal Bank of Scotland in implementing fingerprint authentication for mobile banking services.

Apple is not the only belle at the mobile-banking ball. Westpac New Zealand, for instance, has developed apps for mobile fingerprint scanning on Samsung devices.

(Image source: Chris Isherwood via Creative Commons license)

2 of 11
Comment  | 
Print  | 
Comments
Threaded  |  Newest First  |  Oldest First
wataylorgeo
50%
50%
wataylorgeo,
User Rank: Apprentice
3/25/2015 | 7:10:00 PM
Pending Review
This comment is waiting for review by our moderators.
Elliott Wilkins
50%
50%
Elliott Wilkins,
User Rank: Apprentice
5/20/2015 | 6:06:04 AM
Start-up
Wow mobile banking is innovating quicker than I realised, there are a few great ideas here. Financial organisations will never be able to innovate as quickly as the plethora of start-ups that are sprouting up every week. So these large corporations really need to start using one of these start-up scout services such as the one provided by Qmarkets. The solution allows large organisations to form a database of all relevant start-ups and small business, with the goal of eventually buying out smaller competitors whose technology/intellectual property could be beneficial. The only way for these old dinosaurs to survive with the coming disruptive tech is to work together with the innovative companies and embrace the change rather than resisting it.
Blog Voyage
100%
0%
Blog Voyage,
User Rank: Strategist
7/6/2015 | 2:36:43 AM
Amazing
Mobile banking is innovating quicker than I thought. What great ideas you expose here.

As said just up over my comment, financial companies will never be able to innovate as quickly as start-ups. That's why they need to start using one of these start-up scout services.
DorisG987
50%
50%
DorisG987,
User Rank: Apprentice
9/2/2015 | 1:36:44 AM
Cybersecurity Workshop on this topic
Meet Edgar Perez, author of The Speed Traders and Knightmare on Wall Street, and course director of Cybersecurity Boardroom Workshop 2015 in New York City, London, Dubai, Bangkok, Jakarta, Sydney, Taipei, Seoul and Tokyo.
ThomasBonderup
50%
50%
ThomasBonderup,
User Rank: Apprentice
7/26/2016 | 8:01:19 AM
Pending Review
This comment is waiting for review by our moderators.
Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology
BS&T's 2014 Elite 8 executives are leading their banks to success, whether it involves leveraging the cloud, modernizing core systems, or transforming into digital enterprises.
Slideshows
Video
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.