Opening a bank account is now as easy as taking a picture
By Teamspirit on Thursday, 8 September 2016
HSBC has announced plans to let people open accounts with a selfie, ditching the need for business customers to visit branches in order to confirm their identity.
The bank claims this new system is a step forward for security. But, with finance-focussed cybercrime on the rise, is relying on something as easily accessible as a photo a smart idea?
HSBC are keen to point out that this is just part of a raft of security measures they employ when opening accounts, and stress that by matching a recent photo with one on official documentation they are providing customers with a service that is both secure and convenient.
With more high street bank branches closing every week, and the increased use of new technology like voice recognition, this does seem like a natural step in helping people identify themselves remotely.
Whether this convenience outweighs general public concerns over security and privacy will be a job for both security teams and marketing departments.