Passkeys for Financial Institutions: Why & How
summary
Financial institutions get ready to deploy FIDO passkeys as a practical password replacement: implement a FIDO authentication server and optionally add an SDK to issue device-bound passkeys from the bank app, while also accepting sync passkeys for broad user convenience. Claims: FIDO gives phishing resistance, public‑key storage prevents server credential leaks, and reduces fraud and support costs. Constraint: PSD2 and some regulators expect device binding, so a hybrid phased rollout is recommended.
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chapters (7)
- 0:00Introduction and welcome
- 1:05Current MFA state in banking
- 8:03Passkeys arrival and benefits
- 12:34Sync passkeys challenges
- 16:07Hybrid approach for financial institutions
- 20:02Implementation steps and recommendations
- 24:41Q&A session
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