Banking Apps are using Touch ID

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The banking industry is starting to embrace the next generation of application technology. Biometric technology such as fingerprint recognition not only facilitates a faster service in our on-demand culture, but it also centres on the user’s identity. Touch ID is Apple’s biometric fingerprint authentication technology.

With the introduction of iOS 8 Apple opened up Touch ID so it could be used by third party app developers, like banks, on the iPhone 5s, 6 and 6 Plus, as well as the iPad Air 2 and iPad mini 3. Two major banks are to let their customers access their accounts on their iPhones using Apple’s Touch ID fingerprint scanning technology .Royal Bank of Scotland (RBS) and NatWest has reduced their customer’s hassles of remembering complicated login information to see their finances .It is the first time a major bank has enabled the fingerprint recognition technology in place of passwords and passcodes on a mobile phone application.

Stuart Haire, managing director, RBS and NatWest Direct Bank, said: “There has been a revolution in banking, as more and more of our customers are using digital technology to bank with us. “Adding Touch ID to our mobile banking app makes it even easier and more convenient for customers to manage their finances on the move and directly responds to their requests.”

Although easier, fingerprint technology has its drawbacks. Fingerprint security systems on both the iPhone range and the Samsung Galaxy S5 have been compromised by hackers using synthetic fingerprints, created from scans or photographs of the owner’s print, then transferred onto a rubber pad and pressed against the sensor.

Making use of technological advancement makes processes easy and creates potential for developing new innovative apps.