Barclays Launches Biometric Banking Hub

Barclays has launched a new high-end banking service that lets its largest customers stay secure by using biometric security.

iPortal will act as a central hub for corporate customers to access all of the bank’s services through a single gateway, with entry gained by using Barclays’ Biometric Reader tool.

The Reader uses Hitachi’s Finger Vein Authentication Technology (VeinID) biometric service, which uses infrared light to scan the blood flow in a user’s finger, which is reportedly more secure than a fingerprint and eliminates the need to remember PIN and passwords.

Simplify

“Traditionally online banking systems have not always made life easy for businesses,” said Michael Mueller, head of cash management at Barclays.

“Corporate banking solutions that bridge existing products produce disparate, complex and outdated systems that require multiple logins on a variety of platforms, making banking a time-consuming and disjointed process. With iPortal, we are changing all that.”

iPortal, which has been built from the ground up as an entirely new Barclays service, offers users with an immediate snapshot of their accounts and products. It features a customisable interface which allows users to authorise payments, manage cash, trade services and loan facilities.

Users can also communicate securely messages with Barclays relationship and support teams via iPortal to streamline communication. It will also act as a market intelligence tool, providing users with the latest market research and insights specific to their business and industry.

“In recent years, banks have rolled out ever more personalised services, to meet consumer demands for ways of banking that fit around their lifestyle,” added Mueller. “But what’s to say the same idea can’t apply to business users? The development of iPortal is another major step towards our vision of the future of corporate banking; simplifying and personalising the experience to enable decision makers to spend more time focusing on the business of doing business.”

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