ANZ is set to launch a password-less web banking service for ANZ Plus, becoming the first Australian bank to introduce a fully password-free option. The service, anticipated to launch in mid-2025, will allow users to access their accounts without traditional passwords, aiming to improve both security and convenience.
The new authentication system will allow customers to log into ANZ Plus Web Banking using either a passkey method such as fingerprint, facial recognition, or mobile device PIN, or by entering their mobile number and approving a login request through the ANZ Plus app.
Maile Carnegie, ANZ Group Executive Australia Retail, stated, “The introduction of Password-less Web Banking will revolutionise the way customers access their bank account. Not only will it be easier than ever to log into your account, we’re helping our customers bank with confidence knowing their accounts are secure.”
Carnegie further emphasized the added security benefits, noting, “By introducing this change, we’re helping prevent customer login details from the risk of data breaches or phishing attacks – providing an extra layer of protection and one less thing for customers to worry about when it comes to banking security.”
ANZ has already launched multiple security features to combat fraud and scams, such as:
- The ANZ CallSafe feature, launched in November 2024, which has authenticated customers over 20,000 times without sharing passwords.
- The forthcoming ANZ Digital Padlock, slated for mid-2025, which allows customers to lock accounts if a cyber threat is suspected.
- ANZ First Responders team, which managed about 140,000 calls in a year, resolving 93% on the first contact.
- ANZ Scam Safe, which includes several security controls; notably, the Crypto Protect feature prevented around $5.5 million in investment scam losses since April 2024.
ANZ’s enhanced biometrics begin with identity verification at the onboarding phase and extend through activities like PIN resetting and payment limit increases.
The bank advises customers to remain vigilant against scams by not sharing personal information, avoiding suspicious links, and promptly acting if something feels amiss.
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