First National Bank has added touch ID to its mobile banking application in an attempt to alleviate growing consumer concern about security and information leakage from mobile banking apps.

The new feature will allows consumers to log into their mobile banking app through their finger print. This move is meant to strengthen security for consumers who are concerned about data being stolen.

“FNB is committed to innovation, and we are excited to add yet another enhancement to our mobile banking experience with Touch ID,” said Vincent J. Delie, Jr., chief executive officer and president of F.N.B. Corporation and First National Bank.

Touch ID
Mobile is by far the most dominant digital channels for consumers and their preferred method of interacting with the digital world.

Springing off from the popularity of mobile, banking apps have emerged as one of the most popular and useful services that mobile devices can offer.

But despite their popularity, the lingering problem of mobile banking apps is that consumers remain concerned about security ­ especially where it concerns their money.

If banks want to continue bringing customers back to make use of their mobile apps, they need to be able to promise them a reasonable level of security. This security is vital to the bond of trust between the bank and the consumer.

First National Bank is responding to the need for better and more reliable security with a new addition to its mobile banking app – the integration of Touch ID.

Touch ID is the method by which consumers can use their fingerprint in place of a password to unlock access to their phone or to a specific app. First National is integrating this technology into its mobile app, letting consumers set their security settings to require a fingerprint ID to access their bank account.

This method of authentication is more secure than standard passwords and better protects customers’ information.

Many popular smartphones, including the Apple iPhone and the Samsung Galaxy, make use of fingerprint scanners, meaning that this feature will get wide-reaching support from some of the most common models of phone.

For even more security, consumers will have to also input their password when performing sensitive functions such as sending money to other accounts.

This will make it even harder for common thieves to steal information by requiring them to have access to multiple different security layers.

Security concerns
Security is vitally important for the relationship between consumers and the services they provide – and for mobile banking apps, this trust is even more important.

It is in the best interest of all banks to provide as much security as possible for consumers, especially as revelations about mobile security continue to come to light.

For example, a recent study from Wandera found that over 200 mobile apps and Web sites had leaked important personal information (see story).

With stories such as this out there, it is more important than ever that banks are able to offer sufficient security to its consumers.

While a fingerprint ID layer is a good first step, First National Bank needs to stay on top of the latest security innovations to retain its customers.

“With the addition of Touch ID, we are able to provide our customers with one of the most comprehensive mobile offerings in the industry, delivering leading-edge technology and additional security,” Mr. Delie said.