Thales, the leading global technology and security provider, announced it is expanding its collaboration with SoyYo, a digital identity provider for companies in Colombia, introducing FIDO2 passkeys for passwordless authentication. 

This implementation will enable millions of Colombians to connect with their digital identities and access digital services without typing any usernames and passwords.

Passwords have long been the weakest link for consumers to access online services securely. Now with passkey, the user identity is verified with biometrics or a device code so users can log in quickly and securely. 

Each passkey consists of a pair of keys, one of which remains stored in an encrypted format on the device, keeping it safe in the event of a data breach.

For businesses that offer digital services, passkeys provide multiple benefits including improved login success rates and reduced login times, along with strong security and reduced operating costs. 

In this collaboration, the creation of the passkey is preceded by an identity verification, which enables a user centric, reusable SoyYo passkey assigned to the verified user.

“Passwords have been the fatal flaw in digital authentication for decades, but with the introduction of passkeys we are finally on the brink of a passwordless future. We are confident that passkeys will become the dominant authentication method, not only to secure access to services and platforms, but also to authorize any sensitive operations,” said Danny de Vreeze, Vice President for Identity & Access Management at Thales.

“We are proud to offer passkeys to all our customers, including those in regulated industries. We are pleased to support SoyYo, an agile fintech, playing a crucial role as an identity provider, with a smooth migration to a modern, future-proof solution.”

SoyYo helps businesses protect their users’ digital identity and keep their data safe online. They have relied on Thales for the last three years by using its cloud-based identity platform to securely onboard customers digitally with document verification and identity proofing as well as enabling access to their mobile app. 

With the implementation of passkeys, they will now be able to utilise the same platform to introduce passwordless authentication to end users, further improving the customer experience.