The importance of multi factor authentication (MFA)

With so many businesses converting themselves online, tons of confidential data is being uploaded in the cloud, which can be easily hacked. without proper security measures. Hence, it is necessary to take precautionary steps to safeguard both personal and corporate data. It is where Multi Factor Authentication known as MFA comes in. 

Multi factor authentication is one of the most advanced security measures enterprises and individuals can take to protect their data from being breached. 

What is Multifactor authentication and how does it protect you?

Multi factor authentication or MFA is a type of authentication that uses two or more factors of authentication after you enter your password to access your online accounts, such as an online bank account, or just your email. There are three authentication factors involved in MFA. They are:

• - Something an online account owner knows. Like a PIN, passphrases, and something similar. 
• - Something an online account owner has, like OTP delivered by the online service to the user on his or her mobile phone for further verification. 
• - Biometrics, such as retina scan, voice recognition, typing biometrics, keystroke dynamics, writing fingerprint etc.

What is the difference between MFA and 2FA?

You may think that all these factors are also a part of two-factor authentication. So let us tell you one thing, which is that 2FA is a type of multi-factor authentication. However, the only difference is that 2FA only uses exactly two out of the three authentication factors, meanwhile, MFA uses two or all the authentication factors to verify the users’ true identity. 

What is the importance of using multi-factor authentication?

There are numerous advantages of using multi-factor authentication. Some of the most popular and important ones are specified below. 

• Multiple layers of security

As specified earlier, MFA uses two or more two factors of authentication to verify a user’s ID, it helps both users and an enterprise to keep their data confidential. With companies and users using MFA to access their network, hackers cannot do anything even if they gain access to their login credentials, such as password and username. 

• Helps you save your identity

As MFA does not allow anyone to access your network, whether business or personal, except you. It helps you keep your identity safe and secure that cybercriminals try to steal and use in criminal activities. 

• Helps you build a good customer relationship

Companies that integrate MFA in their security measure tend to build better business relationships with their customers. The reason is customers know that in today’s world, where cybercrime as its peak, their data needs extra or multiple layers of protection that MFA provides. 

When customers see an enterprise going to various lengths just to ensure that safeguarding their data is their responsibility, it creates builds solid trust between a customer and an enterprise. As a result, an enterprise may receive numerous business opportunities that could bolster its revenue. 

• Comply with the IT industry standards

Every industry requires a set of standards according to which an enterprise in that field should operate. For example, some hospitals operate according to HIPAA standards, which specify to protect customers’ data, including their confidential data. In addition, most credit card companies must follow the customer data protection policy, which exactly MFA provides. 

Hence, if you want to comply with the standards so you can avoid any inconvenience later, make sure to integrate MFA.

• Easy login process

One of the primary advantages of using an MFA is that it makes the whole login process relatively easy. Moreover, MFA can eliminate the scenario in which users create different passwords for their respective online accounts. MFA can easily be integrated with a single sign-on that makes login more secure, and fast. 

For example, OTPs can help you with all your login accounts by you entering the code sent to you by the online service on your mobile phone via text or call. 

• Multiple choices

MFA allows users to choose from different options, with each option providing various ways. Users can choose the option which suits them. For example, users having access to the retinal scanner can choose the retina scan option in the biometrics option. 

Conclusion

It is a short yet comprehensive guide about what is the importance of factor authentication, and what it is. To make your online accounts safe from hackers, try to implement MFA.

Typing biometrics, known as keystroke dynamics can also be used as a multi factor authentication step, providing enterprise grade security in order to create sa safer place for end-users of the web, desktop of mobile applications.

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