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NEWS
Nationwide tests out behavioural biometrics
a mobile banking app that recognises unique patterns from people’s interactions with their smartphone or tablet. The British building society says it could eventually be used as additional security for mobile banking alongside PINs and passwords, as well as fingerprint scanning and voice recognition. The prototype is being developed by Nationwide’s innovation team in partnership with BehavioSec and Unisys.
N
James Smith, Head of Innovation at Nationwide Building Society, says: “Behavioural biometrics monitor the patterns and habits that are unique to each mobile banking user - everyone holds and interacts with their mobile device in a
different way. The prototype provides an exciting insight into what the future may hold, as we investigate new ways to enhance security.”
Scott Thompson ationwide has produced a prototype within
IN BRIEF UK challenger bank Metro Bank has posted a £11.1
million loss after tax for the first quarter of 2016. In its first set of results since floating on the London Stock Exchange during March, the
venture, which was the UK’s first new High Street bank in over 100 years, also reported a rise in revenues, deposits and customer numbers.
Metro Bank now has 655,000 customers, adding an extra 62,000 new accounts in the quarter between 31 December 2015 and 31 March 2016. Net lending increased by 125% per cent year-on-year to £4.1 billion, driven by strong growth in both residential mortgages and commercial lending. Total deposits were up 75% year-on-year to £5,898 million, with deposits coming from a mix of both businesses and retail customers. Total revenue rose 60% to £37.7 million.
Craig Donaldson, Chief Executive Officer, says: “We have had a strong opening quarter in 2016. I am particularly pleased with the momentum and quality of our lending. We continue to move towards profitability with revenue up 60% year- on-year and the underlying quarterly loss after tax down.”
Scott Thompson
www.ibsintelligence.com © IBS Intelligence 2016
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