Multifactor authentication is a crucial factor for cyber security. It is an access control system that requires two or more methods of authentication from different categories that verify the identity of a user to log in. Think of it like an ATM, where both a physical card and a personal PIN are required to be able to access information about any given bank account. The following are some of the benefits of multi-factor authentication.
One of the good things about this technology is that it increases security with third parties. If you are a large corporation, third parties are likely accessing your systems for various business reasons. Depending on your size, the number of people coming in and out of your system could be in the hundreds or thousands, which is not easy to keep track of. If you add another form of authentication - be it mobile, biometric, or physical – it will create a layered defense.
Another benefit of FIDO 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 doesn’t have access to any sensitive or confidential data.
Findings from a 2021 Ponemon report showed that 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. Moreover, 65 percent of respondents had not identified the third parties who can access the most sensitive data in their organization.
When two or more factors are, it not only limits access, but can make sure that whoever is able to access data is, and only is, the individual listed as having access.
For more information on the benefits of multifactor authentication, visit our website at https://authid.ai/
