Banking is quite a complicated industry. At this day and age, it’s possible to do all your banking needs right on your mobile device. You can check your account, transfer funds, and pay for your bills anytime of the day. Most banks today have mobile apps to allow customers to conveniently transact with them. We’ve seen numerous banks adopt mobile payment services such as Samsung Pay, Android Pay, and Google Pay. Tech giants have teamed up with financial institutions to so consumers have more payment options.
HSBC is one of those banks who are becoming more aggressive in mobile banking. It has an effective online banking system offering convenience to the users. For business customers, they may be able to get more from this bank as the company is introducing a new way to open new accounts. With the goal of simplifying the application, you can use a selfie to verify identity before making any deposits or withdrawals.
The selfie is just one security measure. HSBC will still require a driving license or passport. The selfie step is expected to save “business customers time and open accounts quicker” according to HSBC. This selfie will also make verification faster, eliminating the need to visit a branch personally.
With this move, HSBC is bringing biometrics further. From fingerprint to iris recognition and now this “selfie” recognition. It’s actually just facial recognition but made more common, easier, and perhaps more fun for the selfie addicts. Doing this will also remove the need for passwords that you tend to forget.
VIA: INDEPENDENT
