HSBC rolls out facial recognition for mobile
09 May 2018 17:04 GMT

HSBC’s corporate clients can now log into their bank accounts with a glance after the bank introduced facial recognition technology for its mobile customers.

Customers in 24 countries, including the US, UK and China, could now use their faces to log into HSBCnet, the bank said on Tuesday, in a move it said would speed up the process and enhance security.

The service, which is so far only available on Apple’s iPhone X because it uses its Face ID technology, is the latest move to enhance security and ease of use for customers in a sector that is boosting investment in technology and apps. HSBC says there is a one-in-a-million chance of mistaken identity using the service.

“HSBCnet mobile use has grown by 60 per cent in the last year alone, with an equivalent growth in value,” said Diane Reyes, HSBC’s global head of liquidity and cash management. “With single amounts of up to $1bn authorised on the app, we know our customers will appreciate the additional security and ease Face ID allows,” she said.

High-street banks are seeking to keep up with technological developments in the face of growing innovation among rival challenger and digital-only banks and as tech giants such as Amazon start to move into the retail banking market.