HSBC has become the first bank in Malta to provide corporate customers access to the HSBCnet mobile banking app using facial-recognition technology, speeding up the log-in process and increasing account security.
The launch marks another first in local digital achievement for the bank following the introduction of Touch ID for iPhone users in February 2018 and contactless cards for Premier customers in October 2017.
Clients can now use Face ID to log into the bank’s award-winning HSBCnet mobile app, which already offers Touch ID log-in. The new functionality speeds up log-in times to less than a second.
HSBC Bank Malta Head of Commercial Banking, Michel Cordina said: “Being innovative with the use of cutting edge technology is part of our strategy to grow the business and continuously improve our service to our clients. We continue to invest in Malta to ensure that our local business customers benefit from the latest technology such as biometric means for self-authentication on mobile apps like HSBCnet.”
HSBC is already one of the world’s biggest users of biometric technology for financial services. Customers can use Touch ID fingerprint-recognition, voice recognition and ‘Selfie ID’, to log-in with a photo. Some of these features will be rolled out in Malta in due course.
HSBC Malta’s Head of Liquidity and Cash Management, Steve Zarb, says the introduction of Face ID means business customers can now enjoy even faster and more secure access to mobile banking.
“Customers are benefitting from both the convenience of HSBCnet Mobile and the highest level of security with the introduction of Face ID,” he said.
HSBCnet is the bank’s award-winning internet banking service for all its business customers. It’s designed around the three concepts of efficiency, convenience and control.
Face ID technology works by recognising facial features, analysing over 30,000 reference points to create a ‘depth map’ of the face. HSBC’s Face ID log-on connects the bank’s mobile application programming interface (API) securely to the phone’s software to authenticate the user – with less than a one-in-a-million chance of mistaken identity.
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.
“We are pioneering this technology within the financial services sector for businesses and corporates,” said Niall Cameron, HSBC’s Global Head of Corporate and Institutional Digital. “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.”
The first smartphone model to support Face ID is Apple’s iPhone X. Almost a fifth of current HSBCnet Mobile customers on Apple phones are already using it. The bank’s Touch ID option will remain available on smartphones that can scan fingerprints.