The day is fast approaching when iPhone users can access their mobile banking accounts with the press of a finger.

Apple announced last week that it is making its fingerprint scanning technology, Touch ID, available to banks, retailers and any other companies that develop apps for its hand-held devices. That means bank app developers can now work with Apple to create apps that let a customer log into an account using a fingerprint instead of a user name and password. Or, if security is a bigger concern than ease of use, bank app developers could layer a fingerprint check on top of a user name and password.

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