Mobile Payments

U.S. Bank Adds Touch ID To Mobile Banking

U.S. Bank customers’ mobile banking experience just got an upgrade.

The bank announced that the updated version of the U.S. Bank Mobile app for iPhone has added Touch ID as an easier way for customers to log in to access their financial details. This means the ability to swap passwords for the biometric option during mobile login.

“We have been looking at ways to use biometrics, such as voice and fingerprint, to authenticate identification for several years,” said Gareth Gaston, executive vice president and head of omnichannel banking at U.S. Bank. “Today, we have critical mass. With more and more devices using fingerprint as an option to unlock tablets and phones, customers are not only comfortable with fingerprint login, they expect it. This enhancement is one more way U.S. Bank is putting innovation and technology to work for millions of customers.”

For customers wanting to use this feature, Touch ID is available for U.S. Bank customers using iPhone 5s and later models. The feature will be available in future releases of the U.S. Bank Mobile app for iPad and Android users.

Beyond the Touch ID addition, the bank also announced that customers will have a new way to deposit checks via their mobile devices. Updated software in the U.S. Bank Mobile app has improved the image capture abilities by allowing customers to import a check into the app from various angles or under low-light conditions.

Recently announced from U.S. Bank was the ability to provide person-to-person mobile payments, including a real-time option through Early Warning‘s clearXchange network, which U.S. Bank began using on Feb. 21.

What this means is that U.S. Bank customers can now send money to, and request payment from, anyone across the country faster and in real time, using the power of the clearXchange network service, with just an email address or mobile phone number. And it can be done online or via a mobile device.

This feature is provided to customers using the U.S. Bank Send Money option and can be used by any customer enrolled in U.S. Bank’s online banking options. Features of the service include free delivery, free email options, flat pricing for next-day and real-time payments and the ability to send payments from savings, checking or money market accounts.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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