Investec has become the second bank in South Africa to integrate Apple’s Touch ID fingerprint recognition technology into its smartphone banking app.
Investec’s Touch ID solution is available for users of the iPhone 5s, iPhone 6 and iPhone 6 Plus.
“Investec clients with an iPhone device will now be able to use Touch ID to log into their Investec app with a single, secure touch, as an alternative to their password,” the bank said in a statement.
“They will get quick and secure access to their South African and UK banking and investment accounts, without compromising on security,” it said.
“Although biometrics has been around for some time, the technology has finally reached a level of development that satisfies the requirements of the global security community,” said Investec’s global head of digital Lyndon Subroyen.
Last month, Standard Bank announced it was introducing Touch ID technology in its app for iPhone and iPad (the Air 2 and the Mini 3).
Quoting Juniper Research, the bank said global downloads of biometric-enabled apps would hit the 6m mark in 2015. This figure, it said, would increase to more than 770m downloads per year by 2019.
Standard Bank plans to roll out the feature to Android phones with fingerprint readers in the “near future”. — © 2015 NewsCentral Media
