An online bank being launched in China by a subsidiary of payments giant Alibaba has had to postpone plans to use facial recognition to open accounts after authorities suggested there were security risks.Earlier this year, Alibaba revealed plans to launch MYbank this month via its financial arm ANT Financial.However, China's central bank and the Police Ministry says there is too much financial risk in MYbank's plans to allows people to open accounts using facial recognition technology.In January, Tencent's Qianhai Webank revealed plans to become the first Chinese bank to use facial recognition to identify new account holders and authorise transactions, but it has yet to launch these commercially.In the same month, Alibaba's mobile payments arm, Alipay, noted plans to access the national police's facial database so that prospective customers can open bank accounts with a mugshot. In a briefing with reporters, MYbank vice-president Zhao Weixing said the bank would not be deterred and that it was in discussions with “many” other banks for opportunities to co-operate. He didn't elaborate further. “We need a system of (bank) accounts because it provides the soil for cash management of small and micro enterprises and customers,” Zhao said.