Mobile authentication secures new app-only bank
Atom Bank, a DXC customer, provides a glimpse into the future of banking. The UK bank, launched in April 2016, runs entirely by mobile app. There’s not a single physical branch or even a desktop website where customers can perform transactions. It’s a completely self-service model that requires human interaction only if a user gets stuck on a technology or banking issue.
“Atom is one of the first of its kind around the world,” says Stewart Bromley, chief operating officer. “We are a mobile-only bank, and we are a full bank offering full services for consumers, small- and medium-sized businesses. In this DXC World article, Bromley explains how Atom worked with DXC to support mobile authentication.
The app, which uses a gaming platform and 3D rendering system with graphics and animations, is secured by ConfidentID biometrics authentication. Customers use tools such as facial and voice recognition to get into the app and perform various functions, from setting up an account to transferring funds.
The app is personalized for each user — from the colors on the screen to the logo. “Every single customer has a different Atom brand. This bank in your pocket is completely tailored to you. The whole experience is completely unique to you,” Bromley says.
While this model of banking is cutting edge for today, Atom Bank continues to look ahead for tomorrow’s disruptors. On the horizon, says Bromley, are behavior authentication (how you hold a phone and tap the buttons), voice controls, and iris and brainwave recognition.
DXC's Identify and Access Management solutions makes it easy to add new authentication methods as they become available. That flexibility will be important as biometrics expands to areas such as the Internet of Things.
“Connected homes, wearables, refrigerators, cars — all of these particular transactions will need some form of authentication, and that’s what we’re starting to build toward,” Hawkins says.
Like DXC, Atom Bank envisions a future that employs new types of authentication to improve user experience: voice recognition tied to voice control of devices; behavior authentication; even brain wave recognition that can lead to “telepathic” commands.
“We see the mobile device itself as having a relatively limited life span of no more than 10 years,” says Bromley. “Ultimately, our vision is to become the first telepathic bank.” Telepathic transactions? Now that would make it easy to buy those items in your online cart.