Westpac New Zealand is preparing to launch an app that uses augmented reality to let customers get account information on their screens simply by viewing their cards through their phones' cameras.
It looks brilliant to have AR app but, demo has flaw of security. I would have loved demo showing how user authentication happens by AR app before starting the magic.
AR app with Biometric authentication such as face recognisation or Finger print scanner will be just best.
Highly frictionless app. Even if that's implicit, the app already has a sorta 2 or 3 factor authentication: My smartphone, my card and my lockscreen password. Kudos to Westpac NZ for striking the right balance between security and convenience. Hope they
don't screw up the app with some harebrained attempt to make security explicit.
c.£70-100K base, commission + equityLondon, UK
© Finextra Research 2015