Tangerine (formerly ING) held an event earlier today to discuss the Future of Banking and announced that their customers will soon have the option of using additonal security features to access their account through the mobile app. Aside from the usual password access, a second level of security can be added that enables Apple's Touch ID (on select iPhone 5s and iPhone 6 and iPhone 6 Plus models) to validate the user's identity. This is quite similar to accessing your iPhone using Touch ID instead of a PIN code or password. Conversely, users that don't have iPhones or are using other devices can use voice authentication as an added access control tool. Hit jump for their full release and more details.
Biometric security has been around for decades and while many users fear or worry that using fingerprints, retinal scans, voice or other forms of access control are unsafe, they are quite evolved and effective when used in a siloed fashion and in conjunction with other verification features.
"We have a long history of delivering simple and innovative solutions for our clients and we're proud to be the first Canadian bank to introduce biometric technology," says Peter Aceto, president and CEO of Tangerine. “We recognize that Canadians want more control over their banking experience, and our goal is to provide them with the ability to bank where they want, how they want and when they want.” Hit jump for their full release and more details.
----
TANGERINE BRINGS THE FUTURE OF BANKING TO CANADIANS WITH NEW BIOMETRICS OFFERINGS
Voice Banking and Touch ID available this month through bank’s Mobile Banking app
TORONTO, ON – October 1, 2014 – Tangerine today unveiled new biometric technology that will revolutionize the way clients interact with its Mobile Banking app and reimagine what Canadians expect when it comes to everyday banking. As the first Canadian bank to launch Voice Banking and Touch ID™, Tangerine’s Mobile Banking app brings clients the ability to bank with their voice and use new fingerprint technology to log in with the touch of a finger for added security.
"We have a long history of delivering simple and innovative solutions for our clients and we're proud to be the first Canadian bank to introduce biometric technology," says Peter Aceto, president and CEO of Tangerine. “We recognize that Canadians want more control over their banking experience, and our goal is to provide them with the ability to bank where they want, how they want and when they want.”
With Voice Banking users can interact with Tangerine’s Mobile Banking app through a conversational interface that answers questions and provides information. Queries can be as simple as inquiring about account balances, to more complex questions and commands like how much was spent at a specific location, or instructions to send Email Money Transfers or pay a bill. Working with software provider NuanceCommunications, Tangerine is the first bank in Canada to offer a voice-controlled mobile app. Voice Banking functionality will be available to clients with mobile devices running iOS 6 and above.
Touch ID uses fingerprint recognition technology to provide an added layer of security when logging into the bank’s Mobile Banking app. Tangerine is the first Canadian bank to provide its clients with the ability to use their fingerprint when logging in, complementing the traditional password. Clients with iOS 8 enabled devices on iPhone 5S and above can use Touch ID as an easy and secure additional authentication factor.
Later this year Tangerine also plans to introduce Voice Authentication, a way for clients to use their voice as a password when logging into the Mobile Banking app. This technology, also from Nuance, will require users to repeat a specific phrase to access their account information in addition to providing a password.
From the launch of Tangerine’s online banking website in 1998 to the debut of its Mobile Banking app in 2010, to being the very first Canadian bank to have a phone-generated image cleared through the banking system in 2013, Tangerine has been a leader in providing Canadians with the digital banking experiences they are looking for.
Through Tangerine’s Mobile Banking app, clients can perform all their everyday banking tasks including reviewing transactions, transferring funds, paying bills and even depositing a cheque with Cheque-In™. In addition, Orange Snapshot, available now on Apple’s Passbook, allows clients to quickly view the balance of their account without having to log into the app.
To learn more about Tangerine, visit Tangerine.ca. New clients can easily sign up for an account through the bank’s website, or by visiting one of five Café locations across the country (North Toronto, Downtown Toronto, Vancouver, Calgary and Montreal). A new express enrollment app available at all Cafés allows prospective clients to use a valid Driver’s License or Canadian Passport to sign up for a Tangerine Chequing Account within minutes simply by scanning their ID.
About Tangerine
Tangerine is a direct bank that delivers simplified everyday banking to Canadians. With more than 1.9 million clients and close to $38 billion in total assets, we are Canada's leading direct bank. Tangerine offers banking that is flexible and accessible, products and services that are innovative, fair fees, and award-winning client service. From no-fee daily chequing and high-interest savings accounts, GICs, RSPs, TFSAs, mortgages and mutual funds, Tangerine has the everyday banking products Canadians need. With over 1,000 employees in Canada, our presence extends beyond our website and Mobile Banking app to our 24/7 Contact Centres and our Café locations. Tangerine was launched as ING DIRECT Canada in 1997. In 2012 it was acquired by Scotiabank, and operates independently as a wholly-owned subsidiary.
For more information, visit tangerine.ca