British banking giant HSBC has introduced facial recognition technology for its mobile banking app that will enable its corporate clients to access their bank accounts by using facial recognition biometrics.
Currently, the Face ID authentication service is available in 24 countries including the US, UK and China.
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The customers of these countries can log on to the HSBCnet by using their faces. The step is expected to strengthen security as well as facilitate the process.
HSBC liquidity and cash management global head Diane Reyes said: “HSBCnet Mobile use has grown by 60% in the last year alone, with an equivalent growth in value.
“With single amounts of up to $1bn authorised on the app, we know our customers will appreciate the additional security and ease Face ID allows.”
The bank claimed that this technology analyses more than 30,000 reference points to develop a ‘depth map’ of the user’s face.
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By GlobalDataFollowing, it connects the mobile app’s API to the phone’s software to validate the customer.
HSBC claimed that the process there is ‘one-in-a-million chance’ of mistaken identity in this process.
The bank already offers the Touch ID login option that offers access following fingerprint scans. It will continue to remain available.
