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.

Related News

Tue 4 Mar 2025

Why the UK is playing catchup in the race for Cryptocurrency infrastructure

Read more

Wed 25 Sep 2024

AI Applied. Let’s get real

Read more

Mon 17 Jun 2024

Brands in the Era of Urgency

Read more

Mon 17 Jun 2024

Brands in the Era of Urgency

Read more