This is a huge deal. This company named Nok Nok has created an open standard called FIDO or Fast Identification Online that connects the built in hardware in mobile devices [which are biometric scanners] and links them to your service accounts online. It’s got huge names behind it like Google, Microsoft, Netflix, Bank of America, Mastercard, Paypal and the list goes on.
This has been in the works since 2012. The real news here is that they have released the standard into the wild for all of hardware makers to implement in their devices. The other half is for the service providers like Bank of America to write the code to accept this form of authentication.
My favorite part is the amazing video they have released that gives the best balance of geek and natural language explanation of what really goes on. Without further ado watch the video and be amazed at the wonderful future without passwords!
Sources: http://www.theverge.com/2014/4/15/5613704/the-plot-to-kill-the-password http://www.theverge.com/2014/12/9/7359535/google-backed-password-killer-crosses-major-milestone