What is multifactor authentication MFA?
Over time the need for a multifactor authentication security system has grown tremendously. It is because a majority of organizations have understood the fact that passwords alone are unable to provide enhanced protection to their business and users.
Even more, in the current technical landscape, using multiple factors has become critical to protect users' accounts. That is the reason why multi-factor authentication has become an integral part of every security system.
Well, there are some people who might don’t know what is multi-factor authentication security system and how it can benefit them. Therefore, here we have brought all the basics of multi-factor authentication that you must know in this regard.
What is multi-factor authentication?
The multi-factor authentication process is basically a security system that requires two or more different verification methods to gain access to anything that’s protected such as a website, an application, VPN, an online account, or anything else.
The multifactor authentication process is a stronger component of IAM policy (identification and access management). It provides enhanced security to users and organizations than just asking for a username or email and password to access an account, application, or anything else.
Three major types of multi-factor authentication
Commonly, a majority of multi-factor authentication methods are based on the three different kinds of additional information along with the user’s password. These include:
Knowledge
The most common type of multi-factor authentication methodology is definitely something you know. It means the process will ask for a PIN or a passphrase along with a password to identify you.
Possession
This multi-factor authentication type includes things you have. It means the process will use your mobile phone or badge to verify your identity.
Inherence
Things you are. It means the factor will be verified by your biometric scan or voice recognition.
Key benefits of multi-factor authentication
Passwords may reign supreme when it comes to authenticating your identity online. However, with the evolving technical landscape, these provide very little protection against common cyber attacks such as phishing, identity theft, brute force attacks, etc.
Fortunately, using multi-factor authentication can provide you with an advanced layer of protection for both customers and employees. It can even help you to mitigate the ripple effects of compromised credentials as well in the best possible way.
The types of threats multi-factor authentication addresses
Fortunately, multifactor authentication can provide protection against different types of security attacks.
However, the most common of the security threats that multi-factor authentication addresses include:
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- Stolen password
- Keylogging
- Social engineering
- Brute force attacks
- Phishing attempts
Multiple factor authentication is an efficient solution to reduce these above-mentioned types of cybersecurity threats in the best possible way.
Who uses multi-factor authentication?
No matter which of the applications users are accessing, it has become vital to protect credentials for ensured the security of both users and businesses. Fortunately, various industries are using multi-factor authentication systems to stay ahead of common security threats such as identity theft.
Here we have enlisted some of the industries that have opted for multi-factor authentication as an essential security system for their users. These include:
- Healthcare organizations to secure personally identifiable information and patients’ data.
- The retail industry is opting for multi-factor authentication to adjust in a perimeter-less environment.
- The banking industry is also using multi-factor authentication as a part of its security system to ensure protection against hacking attempts.
- As media industry is spanning across social media, television, radio, film, and more. However, the multi-factor authentication process is helping media agencies to allow their users to access data that’s publishable.
- Social media platforms are using multifactor authentication to protect their billions of users’ personal data.
- As higher education institutions are holding a vast amount of sensitive data. This data has made these institutions a prime target of hackers. However, higher education institutions have also opted for multi-factor authentication to ensure protection against malicious breaches and targeted hacking attempts.
We all know the fact that endpoint security concerns are continuously becoming bigger over time. Therefore, more and more industries are opting for a multi-factor authentication security system to protect their credentials in the best possible way. Additionally, all of this surely have let you understand the importance of multifactor authentication.
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