Ninety per cent of Australian IT leaders expect passwords will represent less than a quarter of their organisation’s logins in five years or less, according to the FIDO Alliance and LastPass 2023 Workforce Authentication Report.
“The move towards passwordless authentication among Australian organisations has gathered significant momentum over the past few years as an increasing number of organisations have moved to eliminate the risk and liability of passwords,” said Andrew Shikiar, Executive Director, FIDO Alliance.
The report also found:
- Australian businesses are ready to embrace a passwordless future with 94% planning to move – or having already moved – to passwordless technology
- Businesses believe passkeys will help make them more secure
- Many Australian businesses recognise that work still needs to be done with the majority surveyed still using phishable authentication methods
- The majority of Australian IT leaders also recognise that transition will take time and education – with 25% concerned over resistance to change or using a new technology.
- When making this transition, Australian businesses made it clear they want to choose where they store passkeys, with 69% of IT leaders anticipating storing them in a third-party password manager.
“These survey results demonstrate that businesses are excited about the prospect of a passwordless future, and all the benefits that future will bring. And the clear majority also recognise that a password manager plays an important role in that future,” said Mike Kosak, Senior Principal Intelligence Analyst, LastPass.
