However, Sian John, chief security strategist for EMEA at digital security provider Symantec, was not as convinced, saying the same security risks applied to emojis as traditional pins.
"Just as hackers can guess weak passwords that use pet names or memorable dates, picture-based arrangements could be cracked by anyone who knows which emojis someone uses most frequently, and therefore are likely to choose for their passcode," John told CNBC.
"A strong(er) form of verification such as Two Factor Authentication, which provides unambiguous identification of users via the combination of two different components, will still be required to protect sensitive information such as banking logins."
The company said it is in talks with U.K. lenders about adding the system to their security measures. Several banks already use images and pre-selected phrases as an extra layer of security for Internet banking customers.