Hong Kong’s Hang Seng Bank to Ramp up Fintech Use, May Add Facial Recognition to ATMs

With customers becoming more receptive to fintech-fueled services, Hong Kong’s Hang Seng Bank is slated to boost its fintech capabilities and may even add facial recognition to ATMs across the city, according to the SCMP:

“As a community [oriented] bank with 3.4 million customers, Hang Seng Bank is very keen on developing fintech to capture the new generation of tech savvy banking customers,” Louisa Cheang Wai-wan told the South China Morning Post in an interview.

“Regarding facial recognition for ATMs, we are constantly reviewing our services based on different factors including market developments and related requirements.”

This isn’t the first time the bank has used fintech. In the middle of 2017, it rolled out fingerprint authentication for their mobile apps, and followed that with voice recognition for phone banking and facial recognition for iPhone X users. Earlier this year, it introduced chatbots to help with customer’s queries.

That said, it isn’t completely ditching old-school security measures:

“Customers may stick to using passwords to log on for their banking services, while some may like to use their faces, voices or fingerprints to get these services. What we need to do is to make sure we offer sufficient choices for customers,” she said.

Photo: tapekamensoea