Malaysian bank OCBC Bank has launched facial biometric access for its mobile banking app.
The OCBC OneLook will enable consumers using the iPhone XS, XS Max and XR models to access their banking app via a facial scan, providing a quick access to their account, card balance and their latest transactions.
In order to begin using this solution, customers have to complete a one-time activation on their mobile device on the OCBC banking app.
OCBC Bank head of consumer financial services Lim Wyson said, “By leveraging on Apple’s Face ID facial recognition technology, we are enabling our customers to dispense with passwords or even fingerprints when doing their everyday banking on our Mobile Banking app. They now only need to look, quite literally, at their iPhone X to get there.”
This development has come as part of innovation plans for its digital banking, which included the release 2016 of the bank’s OneTouch fingerprint authentication solution. The solution gives retail customers to access their balances, transactions and account overviews by just scanning their finger. Last year, the service was also released for corporate customers.
Softbank recently formed a partnership with Nok Nok Labs for biometric authentication for their mobile users. Customers of the bank are now be able to access the mobile app through biometrics, giving them simpler and quicker access to their data – the new service is available on Android and iOS devices.
Late last year, the Securities Commission Malaysia (SC) announced it is reviewing the property crowdfunding framework. A review will be outlined in the 2019 budget, the SC states, and will be done to support home ownership measures.
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