RBS and NatWest announced that customers can now use the iPhone's TouchID fingerprint technology to access their bank accounts. Hackers are already finding ways to copy fingerprints, but the hope is that this technology will make mobile banking more secure and convenient for customers.
Two banks are allowing their customers to access accounts on their smartphones using fingerprint recognition technology, in a UK industry first. RBS and NatWest customers must activate the feature with their security information, but would only need to use Apple's Touch ID thereafter. The banks said that, after three failed login attempts, customers would have to re-enter their passcodes. But a security expert expressed concern that Touch ID is not secure enough. The banks, both part of the Royal Bank of Scotland Group, said that the feature would be available on the iPhone 5s, 6 and 6 Plus. Customers would have to enable the feature using their existing login details. Some of the in-app features used to pay money that required additional verification would continue to do so and limits were set on new payments, the banks said.