Hong Kong regulatory officials have confirmed that two banks have applied to trial biometric tech under a fintech initiative.Hong Kong Monetary Authority Chief Executive Norman Chan said on Friday that the firms want to use biometrics to authenticate securities trading.The projects will be tested under a fintech sandbox testing environment created by the monetary authorities.”So far two banks have already made use of the sandbox to conduct private trials of their biometric authentication in securities trading services. A few banks are discussing with us and planning to make use of the sandbox for…areas such as blockchain, artificial intelligence and many more,” he said, without naming the banks.The HKMA launched the fintech scheme in September, allowing banks to use a “sandbox” to test new technologies on a limited basis before deploying them to the general public.
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