High street banks are still playing catch up.Image source: TSB.
It’s been a week of playing catch up as Lloyds Bank launched card freezing (albeit only for credit card holders) and today TSB boasts that it has finally added current account opening with a selfie.
For those keeping track, digital banks like Monzo and Starling have offered the ability to open accounts, and later current accounts, with a selfie since at least 2016.
Still, TSB says the feature will help it cut down on fraudulent account applications and speed up the account opening process.
It’ll also be a relief for would-be TSB account holders who no longer have to drag themselves into a bank branch.
“We know that life can take over and that quick lunchtime visit to a branch might not happen,” said Pol Navarro, TSB’s Digital Director.
“With this new experience, we are making banking better and enabling customers to fully complete their application in a way that fully suits their busy lifestyles: just with a simple selfie.”
The feature itself works much the same as Monzo and Starling’s, comparing the selfie you take with a photo of your Photo ID.
In order to do the processing, TSB has partnered with Jumio, the fintech that also powers the facial recognition tech behind Monzo, HSBC and WorldRemit’s account opening processes.