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ABA: The American Bankers Association
Industry Insight

Passkeys for Banking: A Comprehensive Guide for U.S. Bankers

  • Brought to you by Secfense Inc.
  • Published September 13, 2023

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In the U.S. banking cybersecurity domain, there's a significant move towards Multi-Factor Authentication (MFA). Regulatory bodies like the Federal Trade Commission (FTC) have updated the Gramm-Leach Bliley Safeguard’s Rule, mandating financial institutions to adopt MFA for all users. The New York Department of Financial Services (NYDFS) has been championing MFA since 2017 and is now proposing expanded requirements. The Cybersecurity and Infrastructure Security Agency (CISA) emphasizes phishing-resistant standards.

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