by Gugu Lourie
South African-based Investec Bank has introduced fingerprint authentication, using Apple’s Touch ID biometrics technology. The move comes after the financial institution introduced voice biometrics verification system on the 25 February 2015 in SA as a tool to improve security.
Designed and released by Apple Inc, Touch ID is a fingerprint recognition feature currently available on the iPhone 5S, the 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 Investec Online password. They will get quick and secure access to their South African and United Kingdom banking and investment accounts, without compromising on security.
“Touch ID supports Investec’s One Place strategy, which sees us offering our clients access to local and international banking and investments, through the channel of their choice,” says Investec’s Global head of Digital, Lyndon Subroyen.
“By introducing additional digital innovations such as Touch ID, we enable our clients, who are busy global citizens, to save time, while reducing the potential for fraud.”
Subroyen said the response from clients in South Africa and the United Kingdom to the introduction of voice biometrics had been positive and Investec is expecting Touch ID to be equally popular.
“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. The combination of security and convenience makes it ideal for banking applications and our clients will reap the benefits,” Subroyen concludes.
Investec is the second bank in South Africa to introduce Apple biometrics. Last month Standard Bank was the first bank in the country to integrate its mobile app with TouchID.
A number of global banks have already introduced similar features to their apps.