Multi-factor authentication is essential for strengthening security in addition to two passwords and PINs that can be stolen or forgotten, or by replacing them entirely. The methods of authentication that can be used in multi-factor authentication vary from biometric ways like face and voice recognition to methods that can rely on instant one-time codes sent to a device like the user’s phone.
In this detailed blog, we are sharing what multi-factor authentication is, including why it should matter to businesses and how to ensure that you take full advantage of it.
Multi-Factor Authentication, is the use of multiple ways to confirm the identity of someone who is requesting access to an application, website, device or facility. Instead of two-factor authentication that limits the authentication factors to two, multi factor authentication means that two or more factors can be used, adding additional layers of security.
The different types of verification that can be used to add layers of security in multi-factor authentication can include different methods that can be classified as the following:
Every one of these has their drawback and benefits, and this makes the concept of using multiple layers of authentication a viable one that can bring multiple benefits to the user's security.
More businesses adopt multi-factor authentication in each new year. This is due to the enhanced security it provides, as well as the proven protection against breaches that makes systems less vulnerable.
Multi-factor authentication also makes teams more productive, with enhanced focus on protecting sensitive data. With this achieved, cost reductions can be also easily realized. If you are considering multi-factor authentication for your business, we are sharing today the key benefits you need to know.
Multi-factor authentication helps you protect sensitive systems by requiring multiple verification methods. The clearest outcome from this is enhanced security. By combining factors like passwords, biometrics and tokens, you create a layered defense that is significantly harder for attackers to bypass.
Stolen credentials account for a significant portion of breaches. Multi-factor authentication addresses this by making single factors unusable and making them obligatory. This means that your responsibility towards securing user passwords is mitigated.
According to reports, 49% of data breaches involve stolen credentials. Multi-factor authentication ensures these compromised passwords are not enough alone for unauthorized access.
Data breaches and unauthorized access cost businesses significant money if they happen. Implementing multi-factor authentication can help reduce these incidents and also the losses in case they happen as less accounts can be compromised.
When organizations operate under regulations, multi-factor authentication helps meet standards as it boosts security, these standards include PCI-DSS, PSD2 and HIPAA. This ensures regulatory compliance and the hassle that comes with it while providing more secure operations for businesses handling sensitive data.
Multi-factor authentication works seamlessly with single sign-on solutions. Single sign-on means that login is unified with one account, like the single google account you use for multiple google services. This enhances security while simplifying logins and reducing password reuse across your systems to boost security.
Multi-factor authentication can include the usage of active data like geolocation, IP address and device type. This helps apply extra verification in high-risk scenarios while maintaining smooth access for users.
Authentica offers an end-to-end multi-authentication API that lets you rest assured about the quality of verification without having to develop it from scratch. The service also offers flexible on-demand pricing, meaning the overall initial cost will be cut down drastically. You can learn more by getting in touch with us and asking any questions.
Multi-factor authentication prevents a high percentage of attacks and can boost security of a platform or device. Not implementing it increases the likelihood of breaches, financial losses, and reputational damage. For organizations that prioritize cybersecurity today, multi-factor authentication adoption should be a critical step in fortifying defenses against evolving threats.
