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Apple Entering World of Biometric Banking

Jun 30 2014, 12:22am CDT | by , in Rumors | Apple

Apple Entering World of Biometric Banking
Photo Credit: Getty Images

Touch ID will be opened up to developers

The fingerprint scanner that Apple included in the iPhone 5s marked a massive upgrade in security measures that was welcome with open arms. The Touch ID feature makes it much less likely that you are going to have your device stolen, although it has been restricted to use that Apple approves internally.

One of the most interested groups in this will be the banking industry. With 83% of people using their fingerprint to unlock their phone, and many of those using banking apps, it would only make sense that the two would be a perfect match. That is precisely why Apple is releasing the Touch ID technology to their app developers. Biometric security measures like this are going to be even more important in the future.

With the increased focus on security, this is a good move. Apple is already working hard to make the iPhone 6 the most secure mobile device on the market. More and more people are trusting smartphones with their private information, which has many people worried. By simply requiring a password, banking apps are opening themselves to massive security flaws that could threaten their customers.

Apple has been quick to point out that there is no way to simply change a fingerprint the way that people change their credit card information. If you have been worried about security in the past, this should be something that excites you.

Source: Apple Balla

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