Industry Survey

2026 State of Identity Security in Financial Organizations.

We surveyed IAM leaders in financial institutions across the U.S. and Canada to uncover how far MFA coverage and phishing-resistant authentication have progressed, and where critical identity security gaps remain.

Download Now Take a sneak peek

The threat is escalating

94%

report phishing attacks
are on the rise

while only

28%

of their MFA is
phishing-resistant

and yet

82%

remain confident in their
authentication controls

See how we got here, and what can be done

The confidence gap

Confident on paper. Exposed in practice.

94% of finance teams watched phishing attacks climb this year, and most still feel protected. Here is how that rise breaks down.

94%

saw phishing rise

74%
increased

20%
significantly increased

6%
no change or lower

Take a look inside

A peek at what’s in the report.

SECRET DOUBLE OCTOPUS Page 05

Key Findings

IAM leaders are surprisingly confident, despite major identity security gaps.

MFA coverage is partial and fragmented across the finance space.

Only 15% of workforce flows are passwordless.

A large, unprotected legacy footprint is hard to modernize.

SECRET DOUBLE OCTOPUS Page 17

Confidence in Authentication Controls

Figure 13. Ability to mitigate account takeover risk

82%

confident

Somewhat confident — 52%

Very confident — 30%

Neutral — 11%

Not very confident — 7%

SECRET DOUBLE OCTOPUS Page 12

% of Utilized MFA Which Is Phishing-Resistant

Figure 8. Average: 28% is phishing-resistant

43%

47%

None1-24%25-49%50-74%75-99%All

Download the full report

Get the full 2026 report.

What the survey reveals

Exactly how your identity security posture compares with the rest of the finance industry:

The current status of identity security

The gaps in MFA coverage

Key challenges & industry trends

Download the report

Tell us where to send it.