Why passkeys in banking

Passkeys for Banking

Prevent customer account fraud, simplify digital banking access, and meet stringent regulatory compliance with phishing-resistant, passwordless passkey authentication.

  • SOC2 & PSD2 compliant

  • Faster onboarding & transactions

  • 70% less auth costs

These banking companies have rolled out passkeys:

Revolut
Finom
Ubank
Armstrong
First Financial Bank

Benefits for Banks

Protect Customers. Simpler Logins. Save Costs.

100%

Phishing-resistant MFA

Prevent phishing, credential theft and unauthorized transactions.

35%

More Digital Banking Usage

Seamless logins boost customer engagement and digital adoption.

70%

Lower Auth Support Costs

Reduce SMS OTP expenses and password reset support.

VicRoads uses Corbado to offer passkeys to 5 million users

Corbado stands out as a trusted passkey partner meeting our technical, security and customer requirements. Via their enterprise-grade support they provided 24/7 availability, on-site implementation assistance and project management.

IgorIgor Gjorgjioski, Head of Digital Channels & Platform Enablement, VicRoads
Talk to a Passkey Expert
AWS Well-Architected Framework Review

AWS Well-Architected Framework Review

ISO27001

ISO27001

Service Organization Control 2 (SOC 2)

Service Organization Control 2 (SOC 2)

GDPR

GDPR

Dedicated AWS instances

Dedicated AWS instances

Banking Passkey Features

Deploying Passkeys? It takes more than just Code

Discover Corbado’s Banking offering that goes far beyond a simple passkey implementation. We assist you with all the tools you need to make your passkey project a success story.

Advanced Analytics & Reporting

Get insights to optimize passkey authentication and flows.

Keep Passwords & Existing Users

Add passkeys to your existing system without any data migration.

Guaranteed Passkey / WebAuthn Conformity

Get continuously the latest WebAuthn and passkey features.

Enterprise Gateway

WebAuthn server, passkey mgmt, IdP / CIAM connector, high availability

Gradual & Managed Rollout

Phased rollout for smooth passkey transitions and user acceptance.

Adoption Accelerator

Tools and strategies to maximize passkey adoption rates among your users.

Login Observability

Ensure your system architecture supports seamless passkey integration.

Management Cockpit

Centralized dashboard for passkey management and monitoring.

Client SDKs

Seamless passkey UX, edge case handling, automated device linking, ready-made UI kits.

Talk to a Passkey Expert

Feature Walkthrough

See Corbado's Passkey Solution for Banks in Action

Explore how Corbado seamlessly integrates into existing systems, simplifying deployment and enhancing security at scale.

Live Usage

Live Usage

Get the current number of created and used passkeys

Funnel Analysis

Funnel Analysis

Learn and optimize login paths

Process Search

Process Search

Understand the specific login path of a user

Gradual Rollout

Gradual Rollout

Roll out passkeys in phases without risk

Passkey Adoption

Passkey Adoption

Get activation and login rates

Passkey Insights

Passkey Insights

See where your users store their passkeys

Calculate your passkey ROI

Our passkey data lets us project your readiness, activation & login rates. Share your device traffic and login frequency and we’ll project your passkey ROI.

Start your ROI Calculation
Passkey ROI calculation

Learn how to implement passkeys as a bank

Get our Banking Passkey Whitepaper!

Discover why banks implement phishing-resistant MFA with passkeys. Learn what’s crucial for passkey implementation, avoid mistakes and understand passkeys’ business impact.

Get whitepaper

Build vs. Buy

Higher Passkey Adoption. More Savings.

Corbado helps you achieve high passkey adoption and login rates, realizes maximum cost savings for SMS OTP and handles all the passkey implementation complexities for you.

corbado passkeysCorbado Passkeys

DIY PasskeysDIY Passkeys

Sophisticated intelligence out-of-the-box

Requires building own logic to manage passkey availability

Low effort, integrates with IAM & banking platforms

Significant engineering time to develop WebAuthn expertise & workflows

Best-in-class passkey UX across web, mobile & banking apps

Requires in-house UX design and continuous user testing

50-80% passkey adoption rate

5-10% passkey adoption rate

60-90% passkey login rate

5-10% passkey login rate

Passkeys sync across mobile banking, desktop & ATMs

Custom implementation needed for multi-device support

Integrated step-up verification for wire transfers & account changes

Requires manual implementation for transaction-specific authentication

60-90% SMS OTP cost reduction + fewer password reset calls

5-10% savings possible

See the full list how Corbado helps you achieve high passkey adoption, passkey login rates and high SMS cost savings in our full Build vs Buy Passkey Guide.

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FAQ

Make your passkey project a success

How to successfully introduce Passkeys?

Read our blog posts about introducing passkeys and learn from leaders.

PSD2 Passkeys: Phishing-Resistant PSD2-Compliant MFA

PSD2 Passkeys: Phishing-Resistant PSD2-Compliant MFA

As banks navigate PSD2 regulations, passkeys offer a seamless, phishing-resistant authentication method that enhances security and user experience. Fintechs like Revolut and Finom have already adopted passkeys, setting new standards in banking security. Read more about their approach.

Passkeys Strategy

Revolut Passkeys: Bold Move with Room for Improvement

Revolut Passkeys: Bold Move with Room for Improvement

Revolut is one of the first major banks to roll out passkeys for personal and business accounts, enhancing security and UX. However, missing native app support, inconsistent UX, and lack of Conditional UI show room for improvement. As adoption grows, refinements will be key to success.

Passkeys Reviews

Finom Passkeys: Revolutionizing Banking Security

Finom Passkeys: Revolutionizing Banking Security

Finom has made passkeys the default login method, replacing passwords and SMS OTPs. Their implementation prioritizes security, privacy, and user experience, offering cross-device authentication and seamless login. With a 94% passkey-ready device base, Finom is setting a new standard in fintech security.

Passkeys Reviews

PSD3 / PSR Implications for Passkeys (SCA & Passkeys IV)

PSD3 / PSR Implications for Passkeys (SCA & Passkeys IV)

The upcoming PSD3/PSR regulation aims to refine Strong Customer Authentication (SCA), addressing regulatory gaps and security concerns. With 20% of transactions abandoned due to SCA friction, PSD3 seeks to balance security with user experience. Passkeys could play a key role in the new framework, reducing complexity while ensuring compliance.

Passkeys Strategy

Which banks offer passkeys?

Which banks offer passkeys?

Banks worldwide are adopting passkeys to enhance security and reduce fraud. Early adopters include Revolut, UBank, Finom, Armstrong Bank, and ABANCA. More banks, including NAB, Capital One, and Wells Fargo, have passkeys in development. See the full list and latest updates.

FAQ

Passkeys Buy vs. Build Guide

Passkeys Buy vs. Build Guide

Passkeys improve security and user experience, but should you build in-house or use a vendor? While DIY offers control, it comes with high complexity, ongoing maintenance, and security risks. Vendor solutions accelerate deployment, optimize adoption, and reduce costs. Learn how to evaluate the best approach for your business.

Passkeys Strategy

Talk to a Passkey Expert

Discover how Corbado prevents fraud and enhances your digital banking experience.

  • Connects to your IdP / CIAM

  • 10x higher passkey adoption

  • Reduced Cost

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