Why passkeys in the financial services industry
Passkeys for Financial Services
Prevent account fraud, streamline digital banking access and meet strict regulatory standards with passwordless, phishing-resistant passkeys.
PSD2 & GDPR compliant
4x faster customer onboarding
70% lower MFA-related costs
These financial service companies have rolled out passkeys:
Benefits for Financial Service Companies
Prevent Fraud. Boost Engagement. Lower Costs.
100%
Phishing-resistant MFA
Stop phishing and account takeovers, protecting customer assets.
40%
More Digital Banking Usage
Free your users from passkeys. They login quicker and more successful.
70%
Reduce Auth-related Costs
Cut 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.
Igor Gjorgjioski, Head of Digital Channels & Platform Enablement, VicRoads
AWS Well-Architected Framework Review
ISO27001
Service Organization Control 2 (SOC 2)
GDPR
Dedicated AWS instances
Financial Service Passkey Features
Deploying Passkeys? It takes more than just Code
Discover Corbado’s Financial Service 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.
Feature Walkthrough
See Corbado's Passkey Solution for Financial Services in Action
Explore how Corbado seamlessly integrates into existing systems, simplifying deployment and enhancing security at scale.
Live Usage
Get the current number of created and used passkeys
Funnel Analysis
Learn and optimize login paths
Process Search
Understand the specific login path of a user
Gradual Rollout
Roll out passkeys in phases without risk
Passkey Adoption
Get activation and login rates
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
Learn how to implement passkeys as a financial service company
Get our Financial Services Passkey Whitepaper!
Discover why financial services implement phishing-resistant MFA with passkeys. Learn what’s crucial for passkey implementation, avoid mistakes and understand passkeys’ business impact.
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 Passkeys
DIY Passkeys
Passkey intelligence
Only offer passkey logins to users if passkeys are available
Sophisticated intelligence out-of-the-box
Requires building own logic to manage passkey availability
Implementation effort
Build up WebAuthn know-how, design user flows & integrate into financial systems
Low effort, integrates with IAM & banking platforms
Significant engineering time to develop WebAuthn expertise & workflows
Tested passkey UI/UX
Create user-friendly passkey flows optimized for financial customers
Best-in-class passkey UX across web, mobile & wealth management apps
Requires in-house UX design & A/B testing
Passkey adoption rate
Share of accounts with min. 1 passkey created (3 yrs.)
50-80% passkey adoption rate
5-10% passkey adoption rate
Passkey login rate
Share of passkey logins from accounts that have at least 1 passkey (3 yrs.)
60-90% passkey login rate
5-10% passkey login rate
Multi-device authentication
Seamless authentication across financial platforms
Passkeys sync across mobile banking, desktop & wealth management apps
Custom implementation needed for multi-device support
Regulatory compliance
Compliance with PSD2, FFIEC, PCI DSS & GDPR
Pre-built support for financial security standards
Requires in-house development to meet compliance
SMS OTP cost savings
How much SMS OTP savings can be achieved by passkey usage
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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Make your passkey project a success
How to successfully introduce Passkeys?
Read our blog posts about introducing passkeys and learn from leaders.
Talk to a Passkey Expert
See how Corbado prevents account fraud and enhances your customers’ digital experience.
Connects to your IdP / CIAM
10x higher passkey adoption
Reduced Cost