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Home / Market / With Billions of Accounts Supporting Passkeys, FIDO Anticipates 2025 Breakthroughs in Banking, Payments, and Travel
With Billions of Accounts Supporting Passkeys, FIDO Anticipates 2025 Breakthroughs in Banking, Payments, and Travel

With Billions of Accounts Supporting Passkeys, FIDO Anticipates 2025 Breakthroughs in Banking, Payments, and Travel

2024-11-24  Per Henrikson

FIDO Alliance CEO and Executive Director Andrew Shikiar has great expectations for post-password security in 2025, thanks in large part to the considerable momentum his organization is seeing in passkey adoption. This is, of course, FIDO’s mission. Founded in 2012, the “Fast Identity Online” industry consortium is focused on developing open standards for secure, passwordless authentication. Passkeys are a more recent innovation. Stored on a user’s device, such as a smartphone or computer, they replace traditional passwords with cryptographic key pairs. The private key remains securely on the device, while the public key is stored with the service. Authentication occurs when the user confirms their identity through biometrics, a PIN, or another secure method, making passkeys more secure and user-friendly than traditional passwords.


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