U.S. markets open in 7 hours 47 minutes
  • S&P Futures

    4,457.00
    -17.75 (-0.40%)
     
  • Dow Futures

    34,611.00
    -5.00 (-0.01%)
     
  • Nasdaq Futures

    14,705.25
    -135.75 (-0.91%)
     
  • Russell 2000 Futures

    2,022.10
    +0.90 (+0.04%)
     
  • Crude Oil

    86.29
    -0.61 (-0.70%)
     
  • Gold

    1,840.80
    -1.80 (-0.10%)
     
  • Silver

    24.57
    -0.15 (-0.59%)
     
  • EUR/USD

    1.1330
    +0.0013 (+0.11%)
     
  • 10-Yr Bond

    1.8330
    0.0000 (0.00%)
     
  • Vix

    25.59
    +1.74 (+7.30%)
     
  • GBP/USD

    1.3587
    -0.0013 (-0.10%)
     
  • USD/JPY

    113.8600
    -0.2400 (-0.21%)
     
  • BTC-USD

    38,745.26
    -3,291.91 (-7.83%)
     
  • CMC Crypto 200

    915.88
    -79.38 (-7.98%)
     
  • FTSE 100

    7,585.01
    -4.65 (-0.06%)
     
  • Nikkei 225

    27,522.26
    -250.67 (-0.90%)
     

New HSBC customers can verify accounts by taking a selfie

Facial recognition is playing an increasing role in law enforcement, border security and other purposes in the US and around the world.

HSBC will now allow customers to verify their identities when opening an account by taking a selfie, reports Business Insider.

Much like apartment-sharing app Airbnb, the bank will give customers the option of taking a headshot on their phone to complete an ID security check as part of the company's mobile banking app. The function would replace other security methods, such as registering a fingerprint or a password.

The bank hopes that the new facial tracking technology will streamline the process of opening an account. In recent years, banks have worked to implement biometrics to improve their security processes and prevent hacking and ID fraud.