National Australia Bank’s digital division, Ubank, has achieved a significant milestone by becoming the first lender in the country to enable customers to replace passwords with passkeys for both mobile and online banking access.
In August 2024, Ubank pioneered the introduction of Passkeys within its app. Since then, an impressive 90% of active app users have opted for Passkeys as their primary login method, moving away from traditional passwords and SMS codes in favor of biometric and device-based authentication.
Now, customers who have registered a Passkey in the app can seamlessly log into their online banking accounts, thus making Ubank the first Australian bank to implement Passkeys across both mobile and web platforms.
Andrew Morrison, Ubank’s Chief Customer and Digital Officer, commented, “Passkeys provide a secure and straightforward login experience. By extending this technology to online banking, we’re enhancing convenience for our customers while bolstering defenses against phishing and impersonation scams.”