HSBC Is China's First Foreign Bank to Use Facial Recognition
Zhang Xia
/SOURCE : Yicai
HSBC Is China's First Foreign Bank to Use Facial Recognition

(Yicai Global) Sept. 7 -- HSBC Bank (China) Co. has instituted facial recognition in mobile banking, making small mobile payments safer and more convenient, cnstock.com reported yesterday.

 HSBC mobile banking customers can make small mobile payments with a daily total of no more than USD7,576 (CNY50,000).

 Facial recognition technology and dynamic verification codes are difficult to duplicate and enhance the security of small mobile disbursements. The new technology replaces less secure traditional security cipher codes.

 The application of the facial recognition technology is HSBC China's latest use of digital technology. The company has also instituted a 24-hour intelligent online service to answer customer questions about personal banking services.

 "Investing in and developing digital technology is one of HSBC China's key strategies. We have built the Global Science and Technology Center in Mainland China to continuously expand the service and innovation capacity of digital technology and promote the development of our overall businesses, including individual financial business," said Li Feng, deputy governor of HSBC China and business director of its retail banking and wealth management.

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Keywords: HSBC China , Facial Recognition , Mobile Payment