Log into your corporate bank account application with a smile – this is now possible for HSBC corporate customers, as Face ID is rolled out to users of the commercial banking mobile app. The bank's facial-recognition authentication process, Face ID, has been rolled out for the bank's HSBCnet mobile app in 24 countries, including the US, UK and China, and is currently available for customers using an Apple iPhone X, used by a fifth of HSBCnet Mobile customers. Other customers will be able to continue using the Touch ID fingerprint-recognition log-in. However, the new facial-recognition functionality cuts log-in times to less than a second, according to the bank.
Face ID technology works by recognising facial features and analysing over 30,000 facial reference points to create a ‘depth map’ of the face, explained the bank in a press release. This data is then connected through the bank’s mobile application programming interface (API) securely to the phone’s software to authenticate the user. Is there a chance the system will make an identification mistake? Yes but it's less than one-in-a-million chance, according to HSBC.
HSBC's Diane Reyes commented: “HSBCnet mobile use has grown by 60 per cent in the last year alone, with an equivalent growth in value. With single amounts of up to $1 billion authorised on the app, we know our customers will appreciate the additional security and ease Face ID allows.”
The bank's Niall Cameron added: “We are pioneering this technology within the financial services sector for businesses and corporates. Our unparalleled global digital footprint allows us to deploy new technology like this quickly and at scale to make a real difference to our customers.”
HSBC incorporated Face ID as part of its ‘Digital Transformation for Corporates’ (DTC) programme, which is designed to build and develop a customer-centric digital banking experience.
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