Lloyds trials ‘tap to bank’ mobile banking service

Lloyds Bank has embraced Near Field Communication (NFC) to introduce ‘tap to bank’ functionality on its mobile app designed to streamline the authentication process for mobile banking.

The new trial of 125 people enables them to verify their identity when setting up the mobile banking app by simply tapping a Lloyds Bank contactless debit card against an NFC enabled Android smartphone.

This set-up negates the need to operate automated phone calls and if successful the trial may be extended to encompass authenticating new payments.

Director of innovation and digital development, Marc Lien said: “With the widespread take up of contactless cards and most new smartphones now having NFC technology, this tap to bank trial is developing enhancements to banking processes that many people could benefit from.

“This is one of a raft of new technologies that we’re experimenting with to help our customers.”

On top of this the bank has also announced plans to allow desktop customers the ability to verify requests by logging into their mobile banking app.

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