How can banks educate customers about passkey benefits?

For many banks, adopting passkeys is a major shift and for successful implementation, customers must understand and trust this new authentication method. Banks need to proactively educate users on how passkeys work, why they are more secure than passwords and OTPs (which are usually sent via SMS, accessed via authenticator apps or sometimes also sent via email) and how they enhance the banking experience.

• Use plain language to explain what passkeys are and how they replace passwords.
• Highlight security benefits (e.g. phishing resistance, no SMS OTPs, no stolen credentials, prevention of account-takeovers).
• Emphasize ease of use (one-click biometric login, no password resets).

• Provide interactive onboarding experiences that show how to set up and use passkeys.
• Use animated walkthroughs or tooltips in banking apps.
• Offer an FAQ section answering common concerns (e.g. “What if I lose my device?” - see also our FAQ which can serve as a starting point as it's based on the most common consumer questions we have found on the Internet regarding passkeys).

• Send email newsletters explaining the transition from passwords to passkeys.
• Publish blog posts and social media content addressing passkey myths and benefits.
• Partner with cybersecurity experts to share insights on why passkeys are the future.

• Train call center and branch staff to explain passkeys to customers.
• Offer live chat support for passkey-related questions.
• Provide self-service troubleshooting guides on the bank’s website.

• Encourage customers to enroll in passkeys by offering exclusive perks (e.g., faster transaction approvals, fewer security challenges).
• Use gamification techniques, such as badges for early adopters.

Answer potential customer worries, such as:

• “What happens if I change my phone?” → Explain cloud-based passkey recovery.
• “Are passkeys really safer?” → Show examples of how passkeys prevent phishing attacks.