banking Stories February 19, 2016

HSBC has told the BBC that it is going all-in on biometric security, replacing both passwords and memorable questions with a combination of Touch ID and voice-recognition. The bank says that the option will be offered first to customers of its UK branchless subsidiary First Direct before rolling out to 15 million HSBC customers.

First Direct’s customers will be offered the voice and fingerprint recognition system over the next few weeks, followed by HSBC’s in the summer.

Francesca McDonagh, HSBC UK’s head of retail banking and wealth management, said: “The launch of voice and touch ID makes it even quicker and easier for customers to access their bank account, using the most secure form of password technology – the body.”

The hi-tech security approach is heavy on Apple tech …

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banking Stories June 22, 2015

I first speculated that Apple might one day become a bank almost a year before the launch of Apple Pay. What triggered that thought was the use of Touch ID for iTunes purchases and the depth of security involved in the secure enclave used by Apple’s fingerprint system. It was clear even then that Apple had big ambitions in the mobile payment field.

Now that Apple Pay has launched, and already proven a big success, I think the argument for Apple to make the move are even stronger. So here are seven reasons I think Apple may become a bank within the next five years …  expand full story

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banking Stories February 18, 2015

Two UK banks–Royal Bank of Scotland and Nat West–are now allowing customers to login to their mobile banking apps using Touch ID, reports the BBC. The updated RBS app is expected to hit today, with the Nat West one following tomorrow.

RBS and NatWest customers must activate the feature with their security information, but would only need to use Apple’s Touch ID thereafter.

The banks–owned by the same parent company–said that use of Touch ID is subject to a number of security safeguards …  expand full story

banking Stories August 21, 2014

Intuit is out today with a new version of its personal finance app with the release of Quicken 2015 for Mac. The latest version of Quicken boasts an overhauled design to simplify the app as well as “new investment capabilities”, Intuit says. The new Mac version is accompanied by a sync compatible, updated Quicken Money Management app for iPhone which supports snapping and saving receipts as well as displaying charts on-the-go…

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