Fifth Third Bank Brings Touch ID to its Mobile Banking App
Today, Fifth Third Bank announced that its mobile banking app now has Touch ID biometric capabilities. iPhone users can log into their Fifth Third account using a finger or thumbprint instead of a password.
The mobile app allows users to:
- Use Fifth Third’s ‘Now Balance’ to check their balance without logging in
- Make payments
- Transfer money
- Deposit a check using the phone’s camera
- Set up alerts
- Review the past two years’ worth of statements
- Log in using Touch ID for iOS.
Fifth Third knows that customers want banking to be quick and easy, which is why the bank created a system for users to check balances without logging in. The bank added Touch ID as a response to these consumer demands.
Fifth Third customers are beginning to use mobile banking more than online banking. Mobile banking saw a 43% increase from 2014 to 2015, and there were 19 million mobile banking logins last year.
Mobile alerts are also on the rise–up 144% from 2014 to 2015, with 13.9 million alerts sent last year.
The most frequently used mobile services are checking balances and activity, transferring money and depositing checks. In December 2015, one-fifth of all Fifth Third consumer deposits were made via mobile banking, which is an increase of 36% from year-ago levels.
“Our customers’ digital expectations continue to evolve–and many of those expectations are being set by using non-bank apps such as shopping and games,” said Chad Borton, executive vice president and head of the Consumer Bank for Fifth Third Bank. “Fifth Third is continuing to evolve its digital experiences to do the same, creating fast and simple banking.”
There is no word on when or if Touch ID will come to Android phones.