The bank wants to cut down the number of codes and passwords customers need to logon

Lloyds Bank is close to launching a new system where customers tap their contactless payment cards on their smartphones to prove their identity, cutting down the number of passwords they need to use. This is a step up from the current verification system to install the mobile app which involves a phone call with a password, a process which goes wrong in a minority of cases, leaving some customers frustrated with the new technology. It is also the latest strike by Lloyds in a brewing tech war between each of the big banks, and also the wider technology sector which is trying to muscle into the financial services industry.......Read more here