Why is Multi-Factor Authentication important?

Cyber attacks are increasing day by day and it’s time for organisations to rethink their security tactics. MFA is one of the important tactics that organisations can implement to stay secure.

Let’s first understand What is MFA?

Multi-factor authentication is a method that requires the user to provide two or more verification factors before gaining access to any resource as an application, online account, or a VPN.

Why MFA?

Whether you just want to meet compliance requirements or you’re looking to develop a powerful multi-layered access environment, your organisation needs to implement MFA. The main benefit of MFA is it will enhance your organisation's security with multi-layer authentication. 

Types of Multi-factor authentication (MFA)

Three Main Types of MFA Authentication Methods

• Things you know such as a password or PIN
• Things you have such as a USB or smartphone
• Things you have such as a biometric like fingerprints or voice recognition
  

Do Passwords Offer Enough Security?

Traditional passwords aren’t secure enough anymore. 

Hackers have developed countless methods of stealing credentials and gaining unauthorised access, some of which include relaying and spraying attacks and spear-phishing.

In 2017, Google reported that hackers steal almost 250,000 web logins each week. And each incident can be incredibly dangerous but this could have been blocked by a multi-factor authentication (MFA) solution. 

Lately, companies are recognizing these risks and taking steps to reduce them. More than 55 percent of enterprises use multifactor authentication, and this percentage is increasing every year. If you haven't considered this technique for your enterprise, it's time to start.

How Does MFA Work?

MFA works by requiring additional verification information (factors). Most common factor is One Time Password (OTP). 

A typical MFA process looks like this:

• Registration: A person links an item and claims ownership of the item in the system.
• Login: A person logs in using a username and password to access the item.
• Verification: The system can verify the user with a verification layer such as OTP.
• Reaction: The person completes the process with the verified item. 
  

This verification layer acts as a security layer. Some systems demand this verification with each login, but some may remember it.

Tiny steps like adding an OTP verification layer as MFA could protect your security in a huge way. 

Microsoft says, for example, that MFA blocks nearly 100 percent of account hacks. 

Benefits of Multi-Factor Authentication

1. MFA Enables Stronger Authentication
2. MFA Adapts to the Changing Workplace
3. MFA Offers Security Without Compromising User Experience
4. Increase Your Employee Productivity And Flexibility 
5. Enable Your Other Security Measures To Do Their Job Properly 
   

Conclusion:

Multi-factor authentication solutions are relatively inexpensive and often extremely easy to deploy. They provide simple but effective protection to individual users and the wider business network. So it’s time to implement the MFA to achieve higher level of security.

Implement MFA with the help of IC Digital experts.