Smartphone-only Brazilian bank unveils facial recognition

Neon Bank, a Brazil-based bank aimed at younger people with its smartphone-only approach, has added facial recognition in a bid to bolster security.

The bank was launched by 24-year-old Pedro Conrade. New account holders get issued with a Visa card both in physical and virtual formats to use in physical stores and online.

The bank can be accessed via its smartphone app and does away with usernames and passwords relying solely on your visage. Account holders take a selfie to gain access to their accounts. The biometric technology comes courtesy of US tech firm Deon.

The bank is looking to have around 100,000 customers in the South American country within 12 months. Launched in July the bank is said to be the first in Brazil to use biometric authentication for transactions within the application.