We’re used to our miniature card-readers and well-versed in keychain dongles which generate a unique passcode before we can log in to our online accounts. But these once-newfangled features are rather old hat when it comes to banking security. What’s next?

From dynamic PIN numbers to iris scanners, there’s a whole new cohort of game-changing tech being designed to foil fraudsters and hackers. Is this the banking of the future?

 Self-Destructing Cards
Want to feel like James Bond? Special polymers being explored by Iowa State University could soon see us carrying cards which can literally melt when a trigger is activated. Had your card stolen? Send a remote signal and your thief won’t believe their eyes as their loot disintegrates.

 Selfie Scanning
Biometric scanning is already becoming mainstream – think of First Direct banking which recognises your voice, or the iPhone X which unlocks when you look at it. Last year, TSB became the first bank to use iris scanning on certain models of Samsung phone.

Biometric identification offers 266 unique characteristics, compared to just 40 in a fingerprint. In the future? Security experts believe we could all be logging on just by looking.

Dynamic PINs
Most of us have trouble remembering a single PIN number, but how about if your passcode, CVV and expiry date could all change at the push of a button? The Da Vinci Choice card looks like a chip-and-pin credit card but also features a small display screen, keyboard, processor and battery. Link your Visa, Mastercard or American Express accounts, then generate a one-time-use PIN or CVV on the card itself – away from prying eyes and tampered ATMs.

Lockyers can help protect your business finances with a whole host of specialist insurance, ranging from Cyber Liability policies to Money and Theft covers. Simply get in touch with our experts to get started.