[{"data":1,"prerenderedAt":80},["ShallowReactive",2],{"story-beyond-passwords-why-mobile-based-digital-identity-is-the-future-of-secure-banking":3},{"articles":4},[5],{"documentId":6,"title":7,"slug":8,"createdAt":9,"publishingDate":10,"description":10,"content":11,"quote":10,"postAuthor":10,"thumbnail":12,"relatedProducts":10,"industry":64,"relatedPosts":69,"metaData":70},"ugt3vi0pvta2a3gq1tyu2zf0","Beyond passwords: why mobile-based digital identity is the future of secure banking","beyond-passwords-why-mobile-based-digital-identity-is-the-future-of-secure-banking","2025-05-05T11:10:54.000Z",null,"In the fast-evolving world of financial services, one thing is clear: the future of banking is mobile. As consumer expectations shift toward seamless, instant digital experiences, traditional methods of authentication – especially passwords – are quickly becoming obsolete. For banks in digitally progressive markets, adopting advanced digital identity solutions isn’t just a matter of convenience – it’s a critical step toward future-proofing customer trust and regulatory compliance.\n\n### The mobile-first future of banking\n\nMobile banking is the primary gateway to financial services. According to [McKinsey’s recent trends](https:\u002F\u002Fwww.mckinsey.com\u002Findustries\u002Ffinancial-services\u002Four-insights\u002Fbest-of-both-worlds-balancing-digital-and-physical-channels-in-retail-banking), over 70% of customers in Western Europe are willing to use mobile, or app-based, banking solutions. This statistic is currently out of line with the percentage of customers already using or those who prefer to use mobile banking – 47% and 40% respectively – thus,indicating there is a market opportunity to expand digital banking offerings. With this shift, the vulnerabilities of outdated authentication methods are becoming increasingly apparent. Passwords can be forgotten, phished, stolen, or guessed – leading to costly breaches and eroding customer confidence.\n\nTo meet the demands of modern banking, institutions need to ensure both security and simplicity. This is where mobile-based digital identity, underpinned by cryptographic security, steps in as a transformative force.\n\n### Enter [SplitKey+](https:\u002F\u002Fcyber.ee\u002Fproducts\u002Fsplitkeyplus\u002F): a new standard in mobile identity\n\nCybernetica’s SplitKey+ is redefining the standards for mobile-based digital authentication and signatures. Designed with the stringent security and usability demands of banks in mind, SplitKey+ is a cryptographic authentication and digital signature solution that offers more than just passwords – a multi-factor authentication (MFA) method can be tailored according to each user’s preferences, consisting of a combination of PIN, pattern or biometrics.\n\nThe [SplitKey](https:\u002F\u002Fcyber.ee\u002Fsolutions\u002Fdigital-identity) key protection technology has been – and still is – used by all major banks in the Baltic countries; Estonia, Latvia and Lithuania since 2017 without one single private key being compromised.\n\nHere's how SplitKey+ benefits banks navigating the mobile-first method:\n\n### 1. Seamless user experience\n\nFrom ease of onboarding new customers to continuous frictionless authentication and transaction authorisation, SplitKey+ is a unique solution on the market. The experience that the product has to offer reduces drop-off rates, improves satisfaction, and aligns with the expectations of tech-savvy customers in Europe.\n\n### 2. Uncompromised security\n\nSplitKey+ uses a patented cryptographic protocol that distributes the private key across multiple secure environments – ensuring that it never exists in full on any single device or server. Even if a phone is lost or a server is compromised, the digital identity remains secure. This architecture mitigates the risks stemming from phishing, SIM swapping, and device theft.\n\n### 3. Compliant by design\n\nBanks operating in the EU must navigate a complex regulatory landscape, from PSD2 to eIDAS. SplitKey+ is built to comply with these frameworks, as it complies with the European QSCD (Qualified Signature Creation Device) requirements and PSD2 (Payment Services Directive). This gives banks a future-proof solution that meets both security and legal requirements.\n\n### 4. Seamless integration\n\nFor banks, the path to innovation must also be practical. SplitKey+ turns every smartphone into a secure authentication device, omitting the need for special hardware. Furthermore, it is designed to integrate easily with existing digital banking infrastructure. Whether it's authenticating users or signing high-value transactions, SplitKey+ can be embedded without overhauling backend systems.\n\n### 5. A platform for growth\n\nDigital identity is not just about secure logins – it’s a gateway to a broader ecosystem of digital services, from instant loan approvals to cross-border onboarding. SplitKey+ lays the foundation for banks to expand services securely, driving customer loyalty and new revenue streams.\n\nA passwordless and more secure future begins now\n\nAs the banking sector accelerates into a digital-first era, mobile-based digital identity is emerging as the key aspect of secure and user-friendly financial services. Cybernetica’s SplitKey+ empowers banks to go beyond passwords, delivering the trust, compliance, and seamlessness that the future of banking demands.",{"featuredImage":13},{"documentId":14,"url":15,"alternativeText":16,"width":17,"height":18,"formats":19,"mime":24},"z0420r0ykxo79q47lgfa834u","\u002Fuploads\u002Fatlantic_money_Ei_Tfumwma_U_unsplash_741fbe9e39.jpg","Person using mobile banking app",7680,4320,{"large":20,"small":29,"medium":36,"xlarge":43,"xsmall":50,"thumbnail":57},{"ext":21,"url":22,"hash":23,"mime":24,"name":25,"path":10,"size":26,"width":27,"height":28},".jpg","\u002Fuploads\u002Flarge_atlantic_money_Ei_Tfumwma_U_unsplash_741fbe9e39.jpg","large_atlantic_money_Ei_Tfumwma_U_unsplash_741fbe9e39","image\u002Fjpeg","large_atlantic-money-_EiTfumwmaU-unsplash.jpg",63.22,1000,563,{"ext":21,"url":30,"hash":31,"mime":24,"name":32,"path":10,"size":33,"width":34,"height":35},"\u002Fuploads\u002Fsmall_atlantic_money_Ei_Tfumwma_U_unsplash_741fbe9e39.jpg","small_atlantic_money_Ei_Tfumwma_U_unsplash_741fbe9e39","small_atlantic-money-_EiTfumwmaU-unsplash.jpg",21.06,500,281,{"ext":21,"url":37,"hash":38,"mime":24,"name":39,"path":10,"size":40,"width":41,"height":42},"\u002Fuploads\u002Fmedium_atlantic_money_Ei_Tfumwma_U_unsplash_741fbe9e39.jpg","medium_atlantic_money_Ei_Tfumwma_U_unsplash_741fbe9e39","medium_atlantic-money-_EiTfumwmaU-unsplash.jpg",39.02,750,422,{"ext":21,"url":44,"hash":45,"mime":24,"name":46,"path":10,"size":47,"width":48,"height":49},"\u002Fuploads\u002Fxlarge_atlantic_money_Ei_Tfumwma_U_unsplash_741fbe9e39.jpg","xlarge_atlantic_money_Ei_Tfumwma_U_unsplash_741fbe9e39","xlarge_atlantic-money-_EiTfumwmaU-unsplash.jpg",190.89,1920,1080,{"ext":21,"url":51,"hash":52,"mime":24,"name":53,"path":10,"size":54,"width":55,"height":56},"\u002Fuploads\u002Fxsmall_atlantic_money_Ei_Tfumwma_U_unsplash_741fbe9e39.jpg","xsmall_atlantic_money_Ei_Tfumwma_U_unsplash_741fbe9e39","xsmall_atlantic-money-_EiTfumwmaU-unsplash.jpg",1.28,64,36,{"ext":21,"url":58,"hash":59,"mime":24,"name":60,"path":10,"size":61,"width":62,"height":63},"\u002Fuploads\u002Fthumbnail_atlantic_money_Ei_Tfumwma_U_unsplash_741fbe9e39.jpg","thumbnail_atlantic_money_Ei_Tfumwma_U_unsplash_741fbe9e39","thumbnail_atlantic-money-_EiTfumwmaU-unsplash.jpg",7.27,245,138,{"title":65,"slug":66,"icon":67},"Enterprise","enterprise",{"icon":68},"finance",[],{"metaTitle":7,"metaDescription":71,"shareImage":72},"For banks in digitally progressive markets, adopting advanced digital identity solutions isn’t just a matter of convenience – it’s a critical step toward future-proofing customer trust and regulatory compliance.",{"formats":73},{"large":74,"small":75,"medium":76,"xlarge":77,"xsmall":78,"thumbnail":79},{"ext":21,"url":22,"hash":23,"mime":24,"name":25,"path":10,"size":26,"width":27,"height":28},{"ext":21,"url":30,"hash":31,"mime":24,"name":32,"path":10,"size":33,"width":34,"height":35},{"ext":21,"url":37,"hash":38,"mime":24,"name":39,"path":10,"size":40,"width":41,"height":42},{"ext":21,"url":44,"hash":45,"mime":24,"name":46,"path":10,"size":47,"width":48,"height":49},{"ext":21,"url":51,"hash":52,"mime":24,"name":53,"path":10,"size":54,"width":55,"height":56},{"ext":21,"url":58,"hash":59,"mime":24,"name":60,"path":10,"size":61,"width":62,"height":63},1788355381071]