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HomeTechnologyMobileCashPro Adds QR...

CashPro Adds QR Code, Biometrics to Ease Sign-In


Companies that use Bank of America’s CashPro digital banking platform for payments, cash management and trade finance operations can now sign in to the website on their mobile device by using the CashPro App to scan a QR code and their biometrics.

With the launch of this QR sign-in for CashPro, the 500,000 users of the digital banking platform no longer have to manually enter their password credentials, Bank of America said Monday (Sept. 26) in a press release.

“QR sign-in is a technology that’s familiar to our clients from their personal lives, and now they can use it to seamlessly access CashPro,” Tom Durkin, global product head for CashPro Platform in Global Transaction Services (GTS), said in the release.

Customers have become more comfortable conducting business on mobile devices, so mobile authentication is a logical next step, according to the press release.

The QR sign-in, which employs a patented technology in order to use a mobile device as a method for computer authentication, is the first in a series of enhancements that will be aimed at making the CashPro user experience simpler and more secure, the press release stated.

“The technology kicks off a schedule of enhancements we plan to introduce to CashPro over the next 18 months that will further improve the simplicity and security of our award-winning platform,” Durkin said in the release.

PYMNTS research has found that companies around the world are replacing cumbersome methods involving usernames, passwords and paper-based ID with new innovations that are designed to authenticate identities.

Read more: Consumers Warming to Biometrics, Still Worry About Fraud

Biometrics like facial recognition, fingerprint and iris scans, and voice recognition technologies are increasingly being employed in everything from accessing devices and financial accounts to airport check-in and security processes, according to the “Alternative Payments Tracker,” a PYMNTS and Socure collaboration.

New PYMNTS Study: How Consumers Use Digital Banks

A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking services, just 9.3% call them their primary bank.

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We’re always on the lookout for opportunities to partner with innovators and disruptors.

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https://www.pymnts.com/news/investment-tracker/2022/signzy-raises-26m-to-expand-ai-powered-compliance-platform/partial/



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