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This big bank plans to kill the password by 2030

The article from The Sydney Morning Herald discusses National Australia Bank's (NAB) plan to eliminate the use of passwords by 2030, aiming to enhance security and user experience. NAB's chief security officer, Sandro Bucchianeri, highlighted that passwords are becoming increasingly vulnerable to cyber threats due to their reliance on human memory and susceptibility to phishing attacks. The bank is exploring alternative authentication methods such as biometric data, behavioral patterns, and device recognition to replace traditional passwords. This shift is part of a broader industry trend towards more secure and user-friendly authentication methods, with NAB also focusing on educating customers about cybersecurity to prevent fraud. The initiative reflects a proactive approach to adapting to evolving digital security landscapes.

Read the Full Sydney Morning Herald Article at:
[ https://www.smh.com.au/business/banking-and-finance/this-big-bank-plans-to-kill-the-password-by-2030-20241203-p5kvj3.html ]