In a move that is breaking new ceilings in technology use, Apple Inc. (NASDAQ:AAPL) TouchID is now the official sign-in allowed by two of UK banks. TouchID which relies on fingerprint recognition technology, is UK industry’s first use case, is used in conjunction with in-app features filters, and limits.
The two banks, Royal Bank of Scotland Group and NatWest are allowing their banking customers to use their Apple Touch ID by first activating the security information followed by setting of in-feature controls. These can vary from additional verification for paying money as well as limitations on new payments the client wants to make.
However, the banks attempts to adopt new age technology has come under fire, as there have been recent Apple fingerprint ID ‘hack’ reports.
Security expert, Ben Schlabs, SRLabs reiterates that there are ‘security implications’ associated with such access. He remarks that there have been ample examples of ‘spoofs’ using this method. He added that the single-layer of access via TouchID to access the banking app would prove to be risky, in terms of security. He explained that the security risks with the use of the TouchID are far more complex than the earlier use of passwords and PINs.
For the banking app access exposes the user to reveal the key in unguarded moments. However, he did also comment that there have not been any reports of iPhone sensor-triggered crimes thus far.
However, the UK banking industry has applauded the move to the next generation of banking and has approved of the nearly 12.4 million downloads.
According to the banks statistics, close to half of their customers, nearly 15 million people are already online bankers. With the acceptance of Apple TouchID logins, nearly three million users have accessed their accounts with the app.
Managing Director of RBS, Stuart Haire, concludes that the TouchID access feature has improved the banking experience of its users and will directly respond to their requests.
