AIB HAS ANNOUNCED that customers will be able to make payments up to €10,000 using a new identity verification tool for mobile banking, which will eradicate the need for a card reader device.
Until now, AIB customers had to use a card reader – a small hand-held device – for certain online banking transactions such as one-off transfers and setting up regular payments.
Customers had to insert their debit card into the card reader to generate an eight-digit code to validate their identity.
The bank maintained that card readers were an added layer of anti-fraud protection.
However, the process was cumbersome when attempting to carry out time-sensitive financial actions – and even more awkward when people didn’t have one when they needed it.
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The new selfie check, however, aims to make such processes easier and faster, while maintaining adequate levels of anti-fraud security.
It involves customers taking a photo of themselves that is safely stored by AIB.
When they wish to make a secure payment of up to €10,000, the app will request that they take a selfie on their mobile phone via the AIB mobile app which will then verify their identity.
The future selfies will be measured against the existing photo.
The bank says the new tool will “substantially reduce” the requirement to use the card reader when using internet banking and allows customers to make more higher-value payments through the app.
Payments made to payees with AIB accounts will arrive on the same day, while payments to other banks will be processed on the same business day if sent prior to 2pm.
To sign up, customers can press ‘Settings’ in the app, then tap ‘Security and access’ from the menu. Next click ‘Selfie Check’ and ‘Enrol’ before following on-screen instructions.
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