#Apple #NatWest - With such impacting digital currency opportunities from Apple Pay to
bitcoin readily available, it appears that the former is willing to
utilize its tech to empower users to check their finances. In what is
being claimed by the Royal Bank of Scotland as a first in Britain,
Apple's Touch ID fingerprint sensor will be included in mobile banking
apps around the country. The move aims to replace the need for passwords, secondary security
measures, and pass codes for banking purposes. RBS said that nearly half
of its 15 million cutovers utilize online banking as their preferred
method of service. More than 3 million customers use the RBS mobile app
every week. Combined, RBS and NatWest, have 1.8 million active iPhone users, of which 880,000 directly use an iPhone 5s, iPhone 6, and iPhone 6 Plus.
RBS hopes that by infusing this next level of technology into the
mainstream will make banking easier and more convenient for customers.
According to Stuart Haire, managing director of the Royal Bank of
Scotland and NatWest Direct Bank, "There has been a revolution in
banking, as more and more of our customers are using digital technology
to bank with us." The introduction of Touch ID, whether it comes from
Apple or elsewhere, does raise some concern among security experts. Banking officials have doubled down on the idea that after three
failed login attempts, customers would have to re-enter their security
information. Even some of the in-app features used will require
additional verification,
while others would set limits on such things as
online payments or bill pay. Customers who do not want to even use
Touch ID can still access their mobile banking using their own created
passcode. Ben Schlabs of SRLabs, a German hacking think tank, attempts to break
down the security implications of Touch ID, saying, "I think it has
been shown that it is pretty easy to spoof it and the risks aren't fully
understood." The dangers are still there in spades, even when passwords
or pins have been removed from the occasion. He continued: "Just the
fact that you are carrying the key around with you and leave copies of
it exposed everywhere you go makes it a very different risk to something
that is inside your brain. The risks are poorly understood."
With actual crimes involving the iPhone sensor yet to be reported, it
seems that people have no fear of being compromised when using Touch
ID.
Title : UK Banks NatWest And RBS To Use Apple's For Account Access
Description : #Apple #NatWest - With such impacting digital currency opportunities from Apple Pay to bitcoin readily available, it appears that the f...