Chinese HSBC mobile banking users can verify ID with a selfie

19. October 2017.

HSBC customers in China can now make payments with a selfie thanks to the introduction of facial recognition technology within the bank’s mobile app.

The feature enables users to add new payees to their account and transfer funds via the mobile banking app. It is the latest way that HSBC is using biometrics to help verify a user’s identity, according to a press release.

With the new system, the customer simply blinks into their camera using the ‘selfie mode.’ Their identity is then checked against a photo held on a database. If the pictures match, and the customer enters the correct passcode into their banking app, they can transfer up to RMB 50,000 (US $7,600) a day.

Previously, customers had to use a token device for authenticating and making transfers. China is the first country where HSBC is using facial recognition technology in this way, according to the release.

“We believe there is a huge growth opportunity, stemming from Chinese consumers’ enthusiasm for new technology,” Richard Li, executive vice president and head of retail banking and wealth management for HSBC China, said in the release. “Investing in digital banking is one of our priorities to ensure we continue to provide the services people want and expect from us.”

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