If Wells Fargo is right, the traditional password will be gone in five years. To prepare, the company has been mentoring startup EyeVerify in an accelerator program since 2014. This July, Wells Fargo will debut EyeVerify’s software to corporate clients. Those executives authorized to use commercial bank accounts will be able to use their iPhone camera to take a selfie, and the Eyeprint ID software built into the bank’s mobile app will read their eyes’ veins and other markers to match with a stored template. Continue reading Wells Fargo Bets on Biometric Security to Replace Passwords

The global trend in smartphones is larger screens, and it looks like consumers are already responding to the larger sizes of the new iPhones. Apple announced yesterday that early orders for the iPhone 6 (4.7 inches diagonally) and iPhone 6 Plus (5.5 inches) have exceeded four million in the first 24 hours of availability via online ordering. That figure is about double the number of early orders the company received online for the 4-inch iPhone 5 two years ago. The new iPhones will hit store shelves this Friday. Continue reading Bigger is Better for New iPhones: Online Orders Top 4 Million

More banking is done digitally today and new financial services are emerging from a variety of companies. Banks themselves are using third-party services for their customers. Banks may have a diminishing role in consumers’ financial lives, giving rise to companies that provide banking and other management services. Critics say banks are slow to innovate, while others suggest they are taking a careful, combined approach with physical and digital services. Continue reading Will Online Services and Apps Replace Local Bank Branches?