Via NST : Maybank has introduced the use of biometric authentication in mobile banking through its Quick Touch service on the Maybank2u application.
It said the service allows customers to access their accounts and check their balances using fingerprints on their mobile devices for authentication.
In a statement today, Maybank said the move is part of the group’s strategy to strengthen its offerings in the digital space and meet customers’ demand for increased convenience and transaction speed.
The new biometric authentication speeds up access to accounts by some 70 per cent over the traditional mode of keying in the conventional six-digit personal identification number (PIN), said Maybank.
Maybank Head of Community Financial Services Malaysia, Hamirullah Boorhan, said more than 500,000 balance inquiries are performed monthly which would require customers to key in their PIN each time they need to access their account.
“Given this large proportion, we felt it was critical to enhance our customer experience by offering our users speedier access to their accounts.
“With the introduction of Quick Touch, we are targeting to grow our Quick Balance user base by 20 per cent by year-end,” said Hamirullah.
Quick Touch is currently available on iOS devices that support biometric capability such as the iPhone 5S, iPhone 6, iPhone 6 Plus, iPad Air 2, iPad Mini 3 and on the latest Apple watch that enables M2U mobile applications from Apple Store.
Maybank2u has over 7.8 million registered users who access the banking portal via personal computers and mobile devices.