It is important to understand the benefits of multi factor authentication if you plan to implement this technology in your business. Multi-factor authentication (MFA) is an access control system that requires two or more methods of authentication from different categories that verify the identity of user to log in. it is a major component of a secure network. Think of it like an ATM, where both a physical card and a personal PIN are required so that one can access information about any given bank account.
One of the benefits of FIDO authentication is that it increases security with third parties. If you run a large corporation, third parties are likely accessing your systems for various business reasons. Depending on your size, the amount of individuals coming in and out of your system could be in the hundreds or thousands, which is not easy to keep track of. When you add another form of authentication - be it mobile, biometric, or physical – it creates a layered defense.
Another benefit of multi factor authentication is that it better controls who has access to your files. Instead of using just passwords that can be passed around or duplicated, multi-factor authentication can help an organization define who does and does not have access to any sensitive or confidential data.
According to a 2021 Ponemon report, 51 percent of respondents surveyed are not assessing the security and privacy practices of third parties before granting them access to sensitive and confidential information. Additionally, 65 percent of respondents have not identified the third parties that can access the most sensitive data in their organization.
When you use two or more factors, it not only limits access, but it can also ensure that whoever is able to access data is, and only is, the individual listed as having access.
For more information on the benefits ofmultifactor authentication, visit our website at https://authid.ai/
