ARCHIVES: This is legacy content from before Industry Dive acquired Mobile Commerce Daily in early 2017. Some information, such as publication dates, may not have migrated over. Check out our topic page for the latest mobile commerce news.

Chase streamlines mobile banking with Touch ID log-in option

Chase is meeting consumer demands for streamlined security features while offering faster, more convenient banking service by enhancing its mobile application with Touch ID authentication for iPhones 5, 6 and 6 Plus.

With Touch ID, the customer can use a fingerprint to log in to the Chase Mobile app for iPhone. The move points to banks’ understanding that they can satisfy customers by catering to the growing appeal of fingerprint identification.

“Touch ID authentication is a feature our customers have been requesting and we do our best to listen and respond to our customers’ needs,” said Lauren Francis, vice president for media relations with Chase, the United States consumer and commercial banking business of JPMorgan Chase, New York. “Customers continue to turn to digital channels at a rapid pace.

“Our active mobile customer base has surpassed the 20 million user milestone and is up 22 percent year over year,” she said.

Setting up
To set up Touch ID on the Chase mobile app for iPhone, the user first goes to Settings and taps Touch ID & Passcode.

Consumer demand drove adoption of Touch ID in app. 

Next, he or she follows the steps to save his or her fingerprint to a device. If a device passcode has not been set up, that will have to be done.

The customer then logs on to the Chase Mobile app, goes to My Settings and slides the toggle button to turn on Touch ID.

To complete secure transactions, such as Chase QuickPay, customers must enter their passwords for additional authentication.

Chase, which also plans to offer a fingerprint authentication for the Chase Mobile App for Android later this year, said customer demand for the convenience and simplicity of mobile banking drove the inclusion of Touch ID on the bank’s app.

With more than 5,500 branches, 18,000 ATMs, mobile, online and by phone, Chase last year earned the highest score of 69 out of 100 in an evaluation by Forrester Research of the five largest retail banks in the U.S., and was cited for its strong transactional and cross-channel features in mobile.

In its 2014 U.S. Mobile Banking Functionality Benchmark, Forrester Research found high regard for the Chase Mobile app for iPhone, which was redesigned with more streamlined navigation and simplified UX. The study reported that Chase and U.S. Bank tied for first place overall, with scores of 69 out of 100 respectively, closely trailed by Wells Fargo, 68 Bank of America, 66; and Citi, 64.

Chase also revamped its Android app, featuring streamlined, clean designs to make it easier for guests to check account balances and conduct transactions.

Chase’s introduction of mobile initiatives is impelled by a change in banking into a companion activity, something a person does while doing something else.

Other banks, such as Webster Bank, are including Touch ID in mobile banking applications to drive user adoption.

A recent study conducted by Ipsos MORI discovered that 44 percent of smartphone users in the United States find new mobile banking apps more attractive if they have a one-step login experience available. While the capability is certainly attractive for financial institutions seeking to drive higher app usage, retail brands have also seen success from implementing Touch ID into their purchase processes.

Brands on board
Brands including Lowe’s, E*Trade and Amazon have embraced the function to boost mcommerce sales.

Consumers are increasingly comfortable with banking on mobile.

“IPhone users are comfortable with Touch ID and the level of security it offers,” Ms. Francis said of Chase’s mobile banking customers. “For an added level of security, customers will still need to enter a password for money movement, such as QuickPay and Bill Pay.”

Final Take
Michael Barris is staff reporter on Mobile Commerce Daily, New York