TSB is integrating technology into its banking app that will allow people to open accounts via a selfie.
The bank devised the plan with the over 55s in mind, because they won’t have to visit a branch.
TSB did some research recently that found that 57% of over 55s never use mobile banking, even though they have smartphone. This compares to 82% of 18-34-year olds who say they use mobile banking.
But 73% of them said they would benefit from being able to do their banking remotely, citing ‘speed’ and convenience and ‘24/7 access as top reasons.
Pol Navarro, digital director at TSB said the introduction is about reducing hassle for customers.
“We know that life can take over and that quick lunch time visit to a branch might not happen. With this new experience, we are making banking better and enabling customers to fully complete their application in a way that fully suits their busy lifestyles: just with a simple selfie.”
ID verification technology from Jumio in the app to enable selfie account opening.
It is by no means the first bank to offer this type of service. About three years ago HSBC launched a mobile app that enabled business customers to open accounts using a selfie as ID. There are many more examples.
It is another example of how biometric authentication is becoming increasingly common place with its ease of use. People always have their face with them and don’t need to remember anything.