• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

BofA Merrill Brings Biometric Security to Corporate Mobile App

July 6, 2018

BofA Merrill Brings Biometric Security to Corporate Mobile AppBank of America Merrill Lynch has brought fingerprint and facial recognition to its mobile app, CashPro Mobile. The biometric technology is used for mobile login, offering stronger security and greater convenience for end users.

A lot of users stand to benefit from the move. Aimed primarily at treasurers in businesses, the CashPro app is used by over 475,000 treasurers, according to BofA Merrill; and it saw a 188 percent jump in year-over-year payment approvals for Q1, suggesting that the app’s use is on the rise.

Of course, wherever business goes, fraud goes too, so the biometric security appears to be a timely development. But in a statement announcing the new features, BofA Merrill Global Transaction Services’ financing and channels head Hubert Jolly emphasized the need to improve the overall mobile banking experience as demand for such technology grows. “Many factors are at play in the growth of mobile adoption and the demand for more robust features in mobile apps,” he said. “Top among them is the expectation treasurers bring from conducting mobile banking for their personal finances.”

It’s the latest sign of the organization’s interest in biometric authentication, with Bank of America having announced that it would trial iris-based login via Samsung devices for mobile banking customers last summer, and that it would work with Intel on biometric security for online banking on PCs in the autumn of last year. And of course its interest in such technology reflects the rise of biometric security in financial services more broadly as customers do more and more banking online.

Filed Under: Industry News Tagged With: Bank of America, Biometric, biometric authentication, biometrics, BofA Merrill, facial recognition, fingerprint recognition, FinTech, mobile banking, mobile biometrics, mobile devices, mobile identification

Related News & Articles

Google Play Leaks Point to Face Unlock for Pixel 7

Ping Identity Introduces New COVID-19 Immunity Passport

Biometric Remote Control Features IDEX Fingerprint Sensor

Primary Sidebar

Learn About Mobile ID and Aviation

Tweets

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi’s product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • NordPass, Yahoo! Japan, and Regula Keep Up Mobile Biometrics Momentum
  • NordPass Enables Biometric, TOTP-secured 2FA for Business Users
  • Mastercard Solution Certified Under UK’s Digital ID Framework
  • Transatlantic Digital Traveler Identity Project Gets High-Profile Tech Partner
  • Digital Identity Tech Demo Online Event

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 MobileIDWorld