The importance of having Two Factor Authentication enabled for all online services

Arguably a strong password plays its role in protecting your data and accounts from unauthorized access. However, it isn't enough to handle data breaches. Two-factor authentication is imperative to add a security layer to your online services. 

Two-factor authentication can make your accounts protected from being compromised by malicious users. The implementation of two-factor authentication offers multiple benefits that you can learn here. 

Why enabling two-factor authentication for all online services is important?

Two-factor authentication is important for multiple reasons, from regulatory compliance to increasing security. Here we have enlisted some of the most important reasons to let you understand things better. 

So, here we go:

1. 1) Increased security 
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2-factor authentication is the best approach to offer an additional security layer for all online services. Various security measures in the process help ensure that only authorized users are accessing their data and accounts. 

Even if an unauthorized user manages to get the credentials of an actual user, they still can’t access the account without confirming their identity due to a second authentication factor. So, overall, the 2-factor authentication method means securer online services. 

1. 2) Have better control over who accesses your online services 
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Two-factor authentication gives online service providers full control over who can access their services and data. They can also prioritize who they want to allow access to the company's sensitive data. Using two-factor authentication will guarantee that the people accessing the information are the ones you have allowed to do so. 

Two-factor authentication is more important for online service providers who need to share information with third parties. It is mainly because sensitive information is also sometimes needed to share, which will otherwise decrease the security of shared information. 

However, having a two-factor authentication method will help you control who can access these details more effectively. 

1. 3) Reduce the risks of compromised passwords.
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Password risks are extremely common, particularly when you aren't using a password manager. 

According to a 2022 report, about 56% of respondents said they use the same password for multiple online services. It means if a cybercriminal gets a duplicate password, he can easily access multiple accounts. 

• - However, adding two-factor authentication will make it difficult for cybercriminals to access anyone’s account without authenticating themselves. 
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• - Besides implementing two-factor authentication, it is still imperative to practice good password hygiene. 
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• - You can create a strong and unique password for each online account. 
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The combination of good password hygiene and two-factor authentication can serve as an ultimate combination to secure online services and user data. 

1. 4) 2FA is scalable with changing user needs 
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Two-factor authentication can easily adapt to the online security needs of every business. Online service providers can set two-factor authentication for all their service users easily. These users include service partners, employees, and customers alike. 

Single Sign-on solutions combined with two-factor authentication can benefit online service providers and consumers in multiple ways. These ways usually include:

• - Eliminating the need to manage multiple passwords
• - Streamlining the login process of consumers, including employees, customers, and partners. 
• - Reducing the number of consumer calls to their IT or support departments for password assistance. 
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Above all, the availability of multiple choices in two-factor authentication to ensure customer protection can help you meet all your security needs in the best possible way. You can even scale the solution to any customer base without any hassle. 

1. 5) It helps in meeting regulatory compliance in online services 
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Two factor authentication implementations may become a primary requirement when you have to comply with some industry regulations. 

For instance, PCI-DSS requires online service providers to implement two-factor authentication in various situations to prevent system access from unauthorized users. 

Even if your online service upgrades lead to unattended consequences, two-factor authentication compliance will ensure that your online service remains virtually non-intrusive. 

1. 6) Reduced cost of help desks and support services 
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Forgotten passwords have become one of the most common problems people face when using online services. Password recovery is possible only with the availability of help desks if you don't have a 2-factor authentication system in your online service. 

• - Managing a help desk for online services can be costly for companies.
• - It will even cause delays for customers to get their new passwords. 
• - Customers usually call a helpdesk 1.25 times every month. 
• - A customer password request to the helpdesk consumes about 20 minutes of support team members. 
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However, the availability of two-factor authentication in any online service platform can greatly decrease the need for customers to connect to the helpdesk of the business as their first option. It will ultimately provide you with a faster and more efficient solution to tackle your customer's forgotten password problems with a secure and safe solution to reset their passwords. 

Final Thoughts 

Two-factor authentication is the best solution for all online services and their users. It can help online service providers add security measures, monitor their service access, and greatly reduce the risk of online service accounts from unauthorized access. 

For online service providers, two factor authentication is the ultimate security solution to protect the privacy and data of their consumers and business in the best possible way. 

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