FIS to Use Touch ID for Cardless ATM Banking

TouchIDLogoFinancial services technology developer FIS has announced that it’s going to be embracing biometric security for its FIS Mobile services. Starting next month, users of FIS’ Mobile Banking app will be able to access account services by scanning their fingers using the iPhone’s Touch ID system.

The company decided to embrace the biometric system in an effort to improve both security and the user experience. In addition to allowing users to securely access account services via the app, the development also allows customers to use the app for authentication when doing banking at an ATM. Speaking in a press release, FIS Mobile Financial Services General Manager Douglas Brown said the new Cardless Cash system “is unlike anything else in the market,” and explained that being able “to access your account and withdraw money with just your fingerprint will make ATM access faster, safer and easier for users. It’s a true homerun.”

The Bancorp has already embraced the new system, making it one of the first major financial services organizations to provide mobile biometric security to its customers. The Bancorp CIO Pete Chiccino said his company “is delighted to partner with FIS in offering fingerprint access to our customers,” adding, “It’s something they can’t currently get anywhere else.”

While both companies are right to acclaim the innovation of cardless ATM banking – an area where we’re only just starting to see pioneering efforts – there is a growing trend of embracing the biometric capabilities of today’s smartphones for mobile banking. The Royal Bank of Scotland, for example, also recently announced that it would use Touch ID for customer authentication on its own mobile app, while the USAA mobile banking app uses alternative biometric modalities to the same end. For its part, FIS has joined the forefront of the trend at a time when it is just picking up steam.

March 27, 2015 – by Alex Perala