Bank of America Corp (NYSE:$BAC) will begin adopting an additional layer of authentication for its online banking services. This comes amid a wave of high-profile data breaches at several U.S. companies.
In an official statement, BoA claimed that it would incorporate Intel Corp.’s (NASDAQ:$INTC) Online Connect technology, which enables fingerprint touch payments, into its online banking systems as early as beginning of next year.
Indeed, cyber-security is gaining serious attention from U.S. companies as concerns rise among financial market participants and regulators.
Further, last month, Equifax Inc (NYSE:$EFX ) disclosed that cyber criminals had breached its systems between mid-May and late-July, stealing sensitive information of millions of Americans.
To put the worry into numbers, BoA saw around $600 million this year toward information security, chief operations and technology officer Cathy Bessant stated.
The company is seeing to spend a similar amount again this upcoming year.
Featured Image: depositphotos/ventanamedia
