HSBC Allows Customers To Open Accounts With A Selfie

By   ISBuzz Team
Writer , Information Security Buzz | Sep 07, 2016 05:20 pm PST

Following the news that HSBC is rolling out a new system where customers can open a bank account with a selfie. Hans Zandbelt, Senior Technical Architect at Ping Identity commented below.

Hans Zandbelt, Senior Technical Architect at Ping Identity:

Hans Zandbelt“The banking industry is a beacon of best practice when it comes to implementing new identity-defined technologies. Last year, we saw RBS roll out fingerprint authentication for online banking customers. HSBC has also recognised the power of authentication by customer identity, with the introduction of selfies to open a bank account in the first place- a progressive move, as the retail banking powers the biometrics revolution forward.

“Biometric technology, such as seflies and voice recognition, not only allows for a more secure service, but such technologies are most importantly tied to the identity of the banking customer- this is essential in alleviating the requirement for customers to remember and type in complicated passwords over and over again, or in this case to make the trip in branch to open a new account.

“By deploying systems that focus on a customer’s identity, banks can offer returning and new customers a seamless service and can mitigate customer losses. This allows users to fully realise the benefits of secure online, mobile access to their accounts now and for years to come.”

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