The end of the password is near, human bodies the 'next security frontier'

The strength and safety of passwords are cause for cybersecurity concern, as oftentimes passwords are easy to crack or shared among colleagues. While organizations are working on ways to eliminate these cybersecurity threats today, there may be no need to do so in five years, as Secil Watson, an executive vice president of Wells Fargo, believes passwords as we know them will be gone in five years, replaced by biometric security technology, according to The Wall Street Journal.

Wells Fargo plans to implement such biometric technology for corporate customers by July. The technology uses software from EyeVerify that scans and authenticates users' eye prints, according to the report.

WSJ cites a Tractica report that estimates the value of biometrics in the financial services industry is expected to grow from $126 million in 2015 to $2.2 billion by 2024, calling the human body "the next security frontier, where physical traits from walking gait to personal heart rhythms can be used to identify individuals."

But until biometrics can be easily integrated on full ecosystems of technologies instead of just mobile devices, the traditional, typed passwords will stick around, according to the report.

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