The Guaranty Trust Bank Kenya has recently introduced fingerprint recognition in an upgraded version of the bank’s mobile app.
This upgraded mobile banking application gives the bank’s customers the convenience of logging into their banking account through touch.
Mobile banking becoming popular
The introduction, which is a first for any bank in the country, is opportune as it comes at a time when more and more people are shifting to their mobile phones for essential banking services. Mobile banking is becoming popular with Kenyans because of its convenience and speed. The new upgraded app based on fingerprint biometrics gives customers the additional benefits of security and being in control.
Upgraded mobile app includes card services
The new, upgraded mobile app also offers card services to customers of the bank. Customers can check card balances, make payments through it, stop card payments and access card statements that are applicable to credit cards as well as debit cards. The service also allows users to top-up their cards.
“Our investments in a state-of-the-art banking platform one year ago enabled us to roll out our cards business in partnership with MasterCard. We have taken this a notch higher and added card management capability on our upgraded mobile App,” said GTBank Managing Director Ibukun Odegbaike.
The security of mobile biometrics
As in other parts of the world, security remains a major concern for customers and bankers. By identifying customers via their unique fingerprints, GTBank’s move is also aimed at increasing the security of mobile banking. Customers are required to log onto their bank accounts by authenticating their identities through their individual fingerprints on the Touch ID feature of their iOS devices. The unique fingerprints are pre-configured.
Banks in this part of the world are reducing the risks of online banking frauds and associated costs through system tampering or manipulation of mobile networks by leveraging the advantages of mobile biometrics. It is important to note here that annual losses from fraud are in excess of Sh 1.6 billion in recent years.
The additional security through biometric technology is critical as it makes the mobile banking platform more secure. It is also more reassuring to customers. The technology is expected to become standard soon, replacing existing but outdated measures of authenticating and verifying customers with their passports, ID cards and signatures.
“At Guaranty Trust Bank, we are driven by the desire to continue enhancing our customer experience at every touch point” Ibukun Odegbaike said. Further he added, “Security in the era of mobile and digital banking is absolutely critical. The fingerprint recognition on the new GTBank mobile App gives our customers the control and confidence to transact securely on the platform,”
GTBank Kenya is part of a banking group with its headquarters in Lagos, Nigeria that is listed on the London Stock Exchange. Since beginning operations in Kenya in 2013 and expanding operations in East Africa, the bank has led the way by offering digital and social media platforms to its customers and changing the way they do banking in Kenya, Uganda and other neighboring countries.