Multifactor authentication has become a very crucial preventive security measure these days for businesses as well as organizes of all sizes, and also for any individual who makes use of a smart device in their daily life. It provides an added layer of protection that complements how passwords are used to secure private data. This makes it much more difficult for potential hackers to exploit and access personal data, or to breach company networks.
To put it simply, an authentication factor is a credential that is used for verifying the identity of a person, system or entity. When multi factor authentication is in place, more than one credential is needed before a person can be granted access to private systems or data. The following are some of the benefits of multi factor authentication.
First of all, MFA helps in enhancing compliance as well as mitigating legal risks. Apart from data encryption, federal and state governments have also made it compulsory for certain companies to implement MFA into standard operating procedures at the end user level. For instance, businesses that have employees that work with personally identifiable information, financial information or social security information are bound by federal and state statutes to integrate MFA into their security protocols. Multi factor authentication is actually needed to meet mandatory compliance standards.
Another benefit of multi factor authentication is that it makes the login process less daunting. A lot of unregulated businesses are against MFA implementations due to the fear of a more complex login process for customers and employees. However, this added layer of security enables companies to redefine and re-imagine their login processes on the road towards enhanced security.