Passkeys Are the Future: Ektar Is FIDO2 Certified

For years, banks have relied on passwords and SMS one-time passwords (OTPs) to verify customers. Both were designed for a different era. Today, they are the easiest things for fraudsters to attack. FIDO2 is the global standard for passwordless, phishing-resistant authentication, and banks can rely on it with confidence.

Ektar’s authentication product is FIDO2 certified for Passkey, and we believe this marks a turning point for how banks protect their customers.

Passwords and SMS OTPs are no longer enough

The weakness of passwords and SMS OTPs is the same: they are secrets that can be handed over. A customer can be tricked into typing a password or reading out an OTP on a fake website or over a phone call. A SIM swap can redirect SMS messages to a fraudster. Once the secret is shared, the bank cannot tell the genuine customer from the attacker.

These methods also create friction. Customers forget passwords, wait for SMS messages that arrive late, and abandon journeys. Banks pay for every SMS sent, and carry the cost of fraud and support calls when things go wrong.

Why passkeys are the future

A passkey replaces the shared secret with a cryptographic key pair. The private key stays on the customer’s device and never leaves it. The bank holds only the public key. To sign in, the customer simply unlocks their device with a fingerprint, face or PIN.

This changes the security model in three ways:

Phishing-resistant. A passkey works only with the genuine website or app it was created for. There is nothing for a customer to type into a fake page, and nothing for an attacker to steal and reuse.
Nothing to breach. The bank stores public keys, which are useless to an attacker. A server-side breach no longer exposes credentials.
Easier for customers. One touch or glance replaces passwords and OTP waits, which supports higher login and transaction completion.

Backed by the FIDO Alliance and supported across major phones, browsers and operating systems, passkeys are becoming the common way people sign in everywhere. Customers will soon expect the same from their bank.

For banks, a passkey alone is not enough

A passkey proves that the right person is using the right device. It cannot tell the bank whether that device is safe, or whether the banking app itself can be trusted. Fraudsters know this, and they have moved their attention to the device and the app.

A rooted or jailbroken phone, malware that overlays a fake screen, remote access tools, and a tampered or repackaged banking app can all undermine a strong login. Not every customer or device will be passkey-ready on day one either, so banks need a strong, phishing-resistant option for those customers too.

Banks need security that covers the whole mobile journey, not just the moment of login.

Ektar: protect the user, the device and the app

Ektar is uniquely positioned to give banks this complete protection from a single partner. We combine three layers that work together:

Protect	Ektar solution	What it does for the bank
The User	ekKey (FIDO2 Passkey), ekShield (Soft Token) and ekBind (SIM-based protection)	Phishing-resistant, passwordless login with a FIDO2 certified passkey. A cryptographic in-app soft token covers customers and devices that are not passkey-ready, replacing SMS OTP. ekBind silently verifies the customer’s mobile number through the mobile network, guarding against SIM-based fraud.
The Device	ekProtect	Detects rooted or jailbroken devices, malware, overlays and remote access tools before a risky session can proceed.
The App	ekProtect	Detects tampering, repackaging and runtime attacks so the banking app can be trusted.

The layers reinforce each other. The passkey confirms who the customer is. The soft token ensures every customer has a strong option today, whatever their device, and ekBind ties the customer to their mobile number. ekProtect confirms that the device and the app are safe to trust. Together they let a bank approve logins and transactions with real confidence, retire SMS OTP, and give customers a smoother experience.

Our products are already used by banks across the GCC, India and Africa, and FIDO2 certification adds independent proof that our passkey technology meets the global standard.

The road ahead

Passkeys will define how customers sign in for the next decade. The banks that benefit most will be those that adopt them as part of a complete security strategy, not as a standalone feature.

If you are planning your move beyond passwords and SMS OTP, we would be glad to show you how Ektar can help you protect your users, your devices and your apps. Get in touch with the Ektar team to arrange a conversation or a demo.