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Opening a bank account today rarely means walking into a branch. Customers expect to verify their identity remotely and on mobile, while banks are expected to catch fraud, meet regulatory requirements, and keep the process fast enough that applicants actually complete it. Identity verification is where those pressures meet.

From loan agreements to onboarding documents, banks increasingly need ways to sign and verify sensitive transactions digitally without adding complexity to the customer experience. This article explores how electronic signatures are being used in banking today, what the different signature types mean in practice, and where institutions are focusing as digital signing becomes part of everyday banking operations.

Mobile apps now sit at the center of the banking experience, making them a growing target for fraud and mobile-based attacks.

Passwordless authentication is already part of modern banking, even if it is not always explicitly labeled as such. In many markets, strong customer authentication (SCA) and multi-factor authentication are well established, and passwords rarely function as a standalone control.

FIDO2 is one of the most significant advances in authentication security in a generation. It eliminates many of the attacks that defined a decade of banking fraud, particularly phishing and credential theft.

At Finovate London, Wultra's Regional Lead for Digital Identity Amal Nazar walked through what it actually takes to modernize legacy authentication for a post-quantum world, and why the window to do it properly is getting shorter every year.

India’s latest update to digital payment authentication signals a shift in how trust is established in large-scale financial ecosystems. With enforcement starting in April 2026, the Reserve Bank of India is reinforcing two-factor authentication while clearly encouraging a move toward dynamic, transaction-bound security.

Malaysia’s updated RMiT policy shifts authentication from guidance to enforceable standards, requiring phishing-resistant, device-bound methods. It reflects a broader move toward continuous, risk-based security tied to real-world fraud threats.

Post-quantum authentication is no longer theoretical. It is becoming a practical requirement for organizations that rely on cryptography to protect digital services, customer identities, and long-lived data. Advances in quantum computing mean that the security assumptions behind today’s cryptographic systems may not hold for the full lifetime of systems being deployed now.

Interestingly, some of the less secure — or even outright legacy — authentication methods appear to be less affected by quantum threats than their modern, cryptography-based counterparts.