Companies have maximized the use of technology in running their operations. Each one utilizes various software and applications to store data and communicate with its customer base. While the convenience digitization has provided is something every business owner enjoys, this also makes them vulnerable to cyberattacks.
The risk of security breaches is always extant, so having a solid layer of security is a must for every establishment. For businesses, using a multi-factor authentication solution (MFA) will significantly increase protection from hackers. But what is MFA, and why do we highly recommend you get this?
Multi-Factor Authentication (MFA)
Top multi-factor authentication solutions provide an additional layer of security through multiple forms of authentication methods. Authentication requires a user to show proof before giving access, usually through something they know, something they own, and something they are. Hackers and other cybercriminals have a more challenging time bypassing MFA since this type of security do not heavily rely on passwords.
What are the Benefits of Multi-Factor Authentication?
Integrating MFA into your company’s system will give you ease of mind for your sensitive data. It’s powerful protection that can save your business one day, and here are some benefits you’ll surely appreciate.
Increased Security
Security is the primary purpose of MFA. Multi-factor authentication requires all users to provide a list of credentials before accessing company accounts, databases, and operating systems. Hackers who have stolen passwords or devices are deterred from breaking in due to insufficient proof.
Better than Passwords
Setting up a passcode to lock accounts is the most common security practice; however, it’s also relatively easy to bypass. While you may not know, passwords can be leaked, stolen, or sold online. Passwords are outdated and the least secure of all security solutions, so it’s better to opt for MFA.
Customizable Authentication
Multi-factor authentication uses three types of factors to authenticate a user:
- Something you know (knowledge); an example of which is your PIN
- Something you have (possession); an example if which is your license or phone
- Something you are (inheritance); an example of which is your fingerprint
MFA allows you to make a combination of any of the three to strengthen your security. You can choose to require a mix of IDs, fingerprint biometrics, and input a password before an employee can access a database. Some may choose to have retina scans and voice recognition combined with a badge scan. It’s all right to use only two of the three factors but to maximize your MFA, it’s best to implement all.
Compliance
Often, regulatory compliance requires companies to use multi-factor authentication. Failure to comply will result in possible lawsuits and a ruined reputation. Other than for security purposes, you should have MFA to prevent any legal issues.
Customer Assurance
The loyalty of your clients and customer base relies heavily on trust, and their trust depends on your business level of security. You want to make sure that the information provided to you by your customers is kept safe from a breach and information theft, so integrate an MFA system into your database and applications.
Works Well with Single Sign-On (SSO)
Another advantage of MFA is its compatibility with single sign-on (SSO) solutions. You no longer need to create multiple passwords when accessing applications and databases. It saves time and increases overall productivity.
Need powerful security solutions to keep your business safe? Visit authID at their website https://authid.ai/ to learn more.
