Ubank expands Passkeys to online banking, marking another Australian banking first

 

Award-winning digital bank Ubank is expanding Passkeys, a next-generation login technology, to online banking, following strong adoption in its mobile app.

Ubank was the first Australian bank to introduce Passkeys, launching the feature in its app in August 2024. Since then, 90% of digitally active app users have embraced Passkeys as their preferred login method, replacing traditional passwords and SMS codes with secure biometric and device-based authentication.

Now, customers who’ve registered a Passkey in the app can use it to log into online banking, making Ubank the first Australian bank to offer Passkeys across both mobile and online platforms.

Andrew Morrison, Chief Customer & Digital Officer at Ubank, said: “Passkeys offer a safe and simple login experience. By expanding this technology to online banking, we’re giving customers more choice and convenience, while strengthening protection against phishing and impersonation scams.”

Passkeys are becoming widely adopted by global tech platforms, payment providers, and government agencies. Major banks including NAB have also indicated their intent to adopt the technology. Ubank’s early leadership in this space was recognised in the Australian Financial Review’s Most Innovative Companies Awards for 2025.

According to the Australian Signals Directorate’s Annual Cyber Threat Report 2024–25, over 84,700 cybercrime reports were received in the past year, many involving stolen passwords and compromised credentials.

“Passkeys are just one part of our broader ‘security by design’ strategy,” Mr Morrison said. “We’re embedding protection into our products and features, so our customers can bank with confidence in an increasingly digital world.”

Other Ubank security updates:

• Confirmation of Payee: A recent banking industry standard checks the account name and number entered against the details held by the receiving bank, providing a match outcome before the payment is made. It is now available in the Ubank app and online banking when making payments using a BSB and account number.
• Dynamic Questioning in-app: Ubank will soon introduce intelligent prompts that adapt to customer behaviour, helping verify payments and prevent fraud. For example, when a payment reaches a higher-risk threshold, Ubank intervenes with a series of tailored questions to help customers assess the transaction.

“Together, these new and upcoming features reflect Ubank’s continued commitment to making banking not only secure, but simple and intuitive so customers can focus on what matters most,” Mr Morrison said.

 

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About Ubank
Ubank is a multi-award winning digital bank on a mission to make daily money success achievable for anyone. We believe the way to get there is to give our customers better visibility of their finances, so that they can make more informed choices and build a more positive relationship with money. Ubank helps people to see the possibility in their money and gives them the tools to reach their goals. Expressed simply, our philosophy is that when you can see money better, you do money better.