No. 07Week of September 23, 2026This week’s briefing
Tradecraft

Glossary

FIDO2

Open standard behind passkeys and security keys.

Used on IAM engineers Security engineers

Definition

FIDO2 is the FIDO Alliance's set of specifications, made up of the W3C's WebAuthn API and FIDO's CTAP protocol, that lets people sign in with public-key cryptography instead of passwords. Passkeys and hardware security keys are both FIDO2 credentials.

Related terms

Where we use it

Field guide

Rolling out passkeys to retail banking customers

Decide which passkeys you accept for which customers, offer enrollment right after a strong sign-in, make passkeys the default for returning users, and design account recovery that doesn’t fall back to an SMS code. Keep a non-SMS alternative for customers who can’t use passkeys, and a device-bound option for staff and other high-risk users.

Field guide

Preparing for NIST SP 800-63-4: a working plan for banks and agencies

Map every authenticator you use to NIST’s assurance levels, identify the restricted ones (SMS and voice codes), and for each restricted authenticator document a risk assessment, user notice, a non-restricted alternative and a migration plan. Add a phishing-resistant option such as passkeys, which Revision 4 accepts at AAL2.

Buyer’s guide

Phishing-resistant MFA: a buyer’s guide

Phishing-resistant MFA is authentication that a fake site or man-in-the-middle can’t capture and replay, because the credential is cryptographically bound to the real site. FIDO2 passkeys and hardware security keys are the common examples, and CISA also counts PKI-based smart cards. SMS codes, authenticator-app codes and simple push approvals are not phishing-resistant.

Explainer

Are synced passkeys phishing-resistant?

Yes. A passkey is bound to the website it was created for, so it can’t be entered on a look-alike site. NIST’s 800-63-4 update accepts synced passkeys at AAL2. The main new risk is the account that syncs them, which needs strong protection of its own.