Fifth Third Bancorp this month began to offer its customers the option to log into the bank’s mobile app — which includes auto lending functionality — using their fingerprint, rather than having to enter a password.
“Our customers’ digital expectations continue to evolve, and many of those expectations are being set by using non-bank apps, such as shopping and games,” Chad Borton, head of consumer banking, said in a company release.
The app first featured auto loan capabilities in 2011, and the bank has been updating those periodically in recent years, a Fifth Third spokeswoman told Auto Finance News. The app currently allows bank customers to view Fifth Third auto loan details, such as payment deadlines, principal balances, and rates. Customers can also make payments on their auto loans, whether held by Fifth Third or other lenders, she explained.
In the wake of Apple’s 2014 introduction of fingerprint authentication capabilities — with the launch of iOS 8 — JPMorgan Chase, Citibank, Bank of America, and others have integrated Touch ID into their apps.
