CHARLOTTE, N.C.—Bank of America announced Wednesday that it will soon let customers use their fingerprint to sign into their BofA mobile app.
The biometric technology will work for Android, iPhone, and iPad customers and provides a secure, convenient way to log in without a passcode, the bank said. The technology was designed using the Fast IDentity Online (FIDO) standards, which uses a public key cryptography that makes the apps resistant to phishing, explained Bill Hardekopf, CEO of LowCards.com, Birmingham, Ala. He added he believes the move addresses growing concerns over mobile banking security.
Michelle Moore, BofA’s head of digital banking, said the biometrics give the bank’s 31-million digital customers “a more seamless and secure banking experience.”
Hardekopf pointed out that the move is in response to a customer trends report, published earlier this year by BofA, that revealed 49% of respondents would like to log in with a fingerprint scan or swipe.
“In addition to the fingerprint sign-in, Bank of America is rolling out an Apple Watch mobile app, a better mobile ‘Accounts Overview’ page, and a ‘New Security Center,’” said Hardekopf. “The Apple Watch app will let users see their account balances and recent transactions posted to all of their accounts, and the app will provide immediate notifications and alerts.”