HSBC launches facial-recognition banking for corporate customers

Stocks and Financial Services Press Releases Thursday May 10, 2018 15:08
Bangkok--10 May--HSBC Thailand

HSBC Holdings PLC has become one of the first banks in the world to let corporate customers access mobile banking using facial-recognition technology, speeding up the log-in process and increasing account security.

Clients can now use Face ID in 24 countries 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 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.
HSBC's Global Head of Liquidity and Cash Management, Diane S. Reyes, 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," she says. "HSBCnet Mobile use has grown by 60 per cent in the last year alone, with an equivalent growth in value. With single amounts of up to USD1 billion authorised on the app, we know our customers will appreciate the additional security and ease Face ID allows."

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," says 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.

For more info about how to log-on to HSBCnet using Face ID, go to: http://www.gbm.hsbc.com/hsbcnet-mobile-app-with-face-id
And http://www.gbm.hsbc.com/hsbcnet-mobile-app.
Media contact
HSBC: Dan Walker Smith: daniel.d.walker-smith@hsbc.com (+44) 7584 402 184
Notes for editors
HSBC's facial-recognition software is now live in 24 countries:
Australia, Bahrain, Bermuda, Canada, China, France, Germany, Hong Kong, India, Japan, Korea, Luxembourg, Malaysia, Malta, Mauritius, Mexico, New Zealand, Philippines, Qatar, South Africa, UAE, UK, USA, Vietnam.
About HSBCnet
  • HSBCnet is an online financial management system that lets users optimise cash flow, simplify day-to-day processes and get quick access to their accounts globally from a single integrated system.
  • The HSBCnet mobile app has 160,000 customers worldwide
  • The HSBCnet mobile app is available in 45 countries
  • USD220 billion – the amount authorised on HSBCnet Mobile App since it launched in 2011
About HSBC

HSBC Holdings PLC, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 3,900 offices in 67 countries and territories in Europe, Asia, North and Latin America, and the Middle East and North Africa. With assets of US$2,522bn at 31 December 2017, HSBC is one of the world's largest banking and financial services organisations


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