Lloyds Bank tests NFC technology for app authentication

Around 125 people have participated in the organisation’s tap to bank trial, which involves tapping a Lloyds Bank card equipped with an NFC chip against a customers NFC-enabled Android smartphone for instant authentication.
It removes the need for the customer to wait for a phone call from an automated system and go through the process of registering for mobile banking.

Lloyds is also offering a new authentication process for certain tasks within desktop internet banking. Rather than waiting for a phone call, customers can verify a request, such as setting up new beneficiaries, standing orders, making international payments or resetting internet banking passwords, by logging in to their mobile banking app.

The new authentication process is currently only available to Android users, but the bank has previously said it will support Apple Pay when the payments solution lands in the UK.