The Future of Password Management: Multi-Factor Authentications
In an era of Zero Trust and widespread cyberattacks - cumbersome password management places businesses at risk as login credentials are easily compromised and sold on the dark web.
According to recent studies, 61% of the research participants continuously reuse the same password. However, 91% of those respondents acknowledged that reusing passwords placed their organisations in a precarious position.
Thus, it's no surprise that embedded Multi-Factor Authentication technology is now a core element of bolstered identity access management protocols to foster trust and prevent unauthorised access.
So, with that said, here’s my take on the future of password management and the importance of deploying cutting-edge Multi-Factor Authentication technology to prevent network breaches.
Why SKG’s MFA Platform Is Leading the Way
Hackers have developed sophisticated techniques and password-cracking tools that easily exploit weak passwords. To "add insult to injury", many users use the same passwords across multiple platforms, increasing the risk of compromised data.
Thus, SKG’s Multi-Factor Authentication (MFA) platform is widely adopted across various industries ranging from finance and healthcare to telecommunications.?
Why, may you ask?
The answer is simple – we foster a thriving “Root of Trust” by fortifying on-prem and cloud-based security to protect user identities and login credentials for enterprise applications.
Our leading Identity and Access Management solution conducts essential device reputation assessments based on factors like their ISPs, geolocations, account access rates, device fraud records, and jailbreaking histories.
Embedded MFA Facial Recognition Biometrics Technology
Biometric authentication processes are rapidly gaining popularity as a secure method to verify a user's identity.??
Unlike passwords, biometrics cannot be easily replicated, providing a more reliable form of authentication.?
Therefore, our patented MFA facial recognition user identity verification platform is widely adopted as it seamlessly facilitates 50 forensic tests - within seconds to prevent unauthored access.?
Passwordless Authentication Is the Wave of The Future
With the advent of MFAs, SKG’s passwordless authentication methods are becoming more prevalent as they eliminate the need for reused passwords.?
To authenticate users, our passwordless platform uses hardware tokens, biometrics, or one-time password (OTP) generators.?
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In addition to bolstering security, our authentication platform enhances a user's login experience by removing the need to remember or manage numerous passwords, including the following benefits:
The Role of Artificial Intelligence in Multi-Factor Authentication
We harness the power of Artificial Intelligence (AI) to continuously monitor user behaviour, identify anomalies, and detect potential threats.?
Moreover, our MFA platform can detect suspicious activities and trigger additional authentication measures, ensuring only authorised users gain access.
The MFA New User Initiation Process
While there’s no doubt that MFA is the wave of the future, some individuals may be hesitant to adopt new authentication methods as the process may be daunting or inconvenient for new users. So, expect some initial pushback if you deploy a new MFA platform.?
However, that resistance will soon dissipate once they experience the joy of seamless authentication processes, without having to recall updated passwords, coupled with fortified security that combats cyberattacks.
Identity & Access Management Control Policies
In addition to bolstering data security via an MFA platform, ensure that you limit physical access to departments in your organisation that contain sensitive information like cardholder data.
Reduce physical access to those areas via user IDs and entry controls with clearly defined access levels, user roles, and responsibilities.
Moreover, draft comprehensive policies and procedures that clearly outline those responsible for granting, monitoring, or revoking a user's access to sensitive data when it is not required.
Conclusion
The future of password management lies in MFA platforms that, compared to traditional passwords that are easy to compromise offer a more robust security solution.?
The advancements in biometric face recognition technology, passwordless authentications, and AI-powered technology further solidify the role of MFAs in securing our digital identities for generations to come. So, get in touch to enjoy the future of password management today.