RBS & NatWest embrace smartphone fingerprint recognition technology
RBS and NatWest have become the first two UK banks to embrace smartphone fingerprint technology to allow customers to access their accounts on the move, despite some security experts expressing concern that the system is open to fraud.
Once set up and activated using existing log-in credentials the system allows one touch access to banking details, foregoing the need to input passcodes, although after three failed log-in attempts the system will revert to password access.
Available on iPhones equipped with Apple’s Touch ID system the interface does come with some limitations however, with additional verification needed to pay out money and limits set on the amount transferrable in new payments.
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Stuart Haire, managing director, RBS and NatWest Direct Bank, said: "There has been a revolution in banking, as more and more of our customers are using digital technology to bank with us.
"Adding TouchID to our mobile banking app makes it even easier and more convenient for customers to manage their finances on the move and directly responds to their requests.”
Royal Bank of Scotland Group, parent of both banks, believes it currently has around 880,000 customers with access to an iPhone 5s, 6 or 6Plus.