52% of NAB’s target demographic aged 18 to 43 understand that passkeys are one of the most effective defences to scams, as well as the banks themselves.
NAB’s uBank has made passkey adoption available on its app and over the next 5 years, strives to transition fully as passkeys offer a modern combination of security and usability using methods such as fingerprint or facial recognition, a PIN, or a swipe pattern.
Unlike passwords, passkeys are never shared with other platforms or websites, significantly reducing the risk of impersonation scams and data breaches.
NAB Chief Security Officer, Sandro Bucchianeri, said: “Passkey technology is a new way to log in without using a password. Instead of typing something you have to remember, your device proves it’s you by using something you already have – your fingerprint, face, or a secure code on your phone.”
Since June, new Ubank customers have been using passkeys to log into the app, and the technology has been gradually rolled out to existing customers over the past four months.
Australians aged 18 to 43 believe encryption and secure authentication are critical measures to prevent scams, alongside monitoring systems and multi-factor verification for high-risk transactions.
The introduction of passkeys aligns with the growing trend among global online services and payment providers, as well as Australian organisations and government agencies, to adopt more secure authentication methods.
