The way it works is that customers access their brokerage accounts by blinking into their smartphone’s camera.
The app has algorithms built-in that look for eye movement, to ensure it's not just some picture of the eye, and there is no need for any additional hardware or external sensors.
The technology is new and was developed for Bankinter by Mobbeel Solutions, a Spanish start-up based in Caceres, Extremadura, Spain.
Today, it works with just the iPhone4 – over half (55%) of Bankinter’s customers have an iPhone – but could be extended to Android in the future.
Bankinter is also thinking about using this as an authentication mechanism for other remote channels, such as ATMs, internet and mobile banking.