Google is moving along quickly with its plans to kill off the traditional password.
Google's (NASDAQ: GOOGL) Advanced Technology and Projects team recently announced that the company was working with "several very large financial institutions" to test out new password-replacement technology.
The technology, called "Trust API," uses multiple sensors in your smartphone to determine whether it's you -- or someone else -- who is trying to log in.
Various devices operating on the Google Android operating system already offer Smart Lock, which uses sensors that can scan your face, your voice, your movements and your location to figure out whether the device should unlock without a password.
But the"Trust API" password replacement project is supposed to be even more advanced, secure and easy to use. Reports say the technology will be constantly operating in the background of your smartphone, combining data from multiple sensors to calculate whether to unlock for the owner or block out intruders. The phone would even be able to differentiate your screen swiping style from that of someone else, according to reports.
Banks and financial institutions have been working to improve their password and log-in technology for months, if not years, to make it easier for customers to check their balances and make payments, while keeping out hackers and thieves.
Google`s parent company, Alphabet Inc., saw its shares drop $1.53 to $736.57 U.S., by Thursday`s close, within a 52-week trading range of $538.85 to $810.35 U.S.
