Half of consumers trust brands more when using passkeys

A recent study conducted for the Thales Digital Trust Index has indicated that 48% of consumers would have increased trust in a brand that uses passkeys instead of traditional passwords, with this figure rising to 56% among 25-34-year-olds.

The survey findings come as World Password Day is marked this year, with a shifting emphasis towards passkeys, as reflected in the FIDO Alliance's rebranding of the event to World Passkey Day. Thales, a supporter of passwordless technology, has welcomed this development and has reiterated its longstanding stance that passwords are no longer sufficient for digital security.

The Thales Digital Trust Index report reveals that nearly a third of respondents, or 31%, identify the process of resetting passwords as a primary cause of online frustration. This sentiment is not restricted to consumers, with workplace environments also impacted by password-related burdens. According to the study, 55% of workers report frustration each time they are required to create a new password.

The report further highlights that three-quarters, or 75%, of people surveyed believe that having a passwordless login experience is important to them, indicating a significant shift in expectations around digital authentication and user experience.

Simon McNally, Cybersecurity Expert at Thales, commented on the development, stating: "Passwords have long been a weak link in digital security, forcing consumers and businesses into a frustrating cycle of password resets and potential breaches. We welcome the FIDO Alliance's commitment to World Passkey Day and its push for a passwordless future. Passkeys provide a seamless and secure authentication experience, eliminating the risks and frustrations associated with traditional passwords.

"Passkeys are automatically generated and securely stored, removing the burden of creating and managing complex passwords. They also enhance privacy by allowing authentication without sharing sensitive data, reducing the risk of breaches. As trust in digital security becomes more critical, businesses must prioritise passwordless solutions to protect users and build brand confidence."

The concept of a passkey refers to a digital credential designed to entirely replace traditional passwords. Unlike passwords, which rely on a secret phrase or code remembered and manually entered by the user, a passkey is uniquely generated and stored on the user's device. This approach leverages something a user 'has,' such as a device-specific digital key, and something they 'are,' such as a fingerprint or facial recognition, making it significantly more difficult for hackers to access accounts illicitly.

Should a passkey be compromised, its uniqueness means it would not grant access to other accounts, differentiating it from passwords which are often reused across multiple platforms. This feature addresses both experiential frustrations and concerns about data breaches.

Setting up passkeys is becoming increasingly straightforward, with several large technology companies, including Google, Apple, Amazon, Sony, and Nintendo, having implemented support for passkeys within their platforms and devices. Users are encouraged to access account security settings, look for an option to create a passkey, and set up a supported authentication method, such as fingerprint or facial identification, depending on their device or operating system capabilities.

The momentum behind the adoption of passkeys has been bolstered by user demand for streamlined, secure experiences, as indicated by the research from Thales and supported by industry alliances such as FIDO. This trend signals a broadening move across digital services and enterprises to reconsider traditional password-based security in favour of passwordless authentication technologies.