Apr 17, 2017

Lloyds says ‘Hello’ to facial recognition banking

Customers of Lloyds Banking Group will soon be able to use fingerprint and facial recognition to log into their bank account after the lender became the first financial services provider in the UK to strike a deal with technology group Microsoft to tighten banking security. The collaboration between Lloyds and Microsoft is the first of its kind in the UK, as banks seek to bolster the security and accessibility of digital banking. The shift to digital services comes as more customers turn to mobile phone banking instead of visiting their branch. Banks are also focused on digitising and making their services more efficient to fend off competition from slick new mobile app-focused banks and technology giants, such as Facebook and Amazon, which are stepping into payments and other parts of the retail banking market. Ryan Asdourian, Windows and devices lead at Microsoft UK, said: "Windows Hello enables users to log in to a Windows device in less than two seconds and this use of advanced biometric technology will provide Lloyds Banking Group customers with a more seamless and frictionless experience without compromising security."

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