Although login to a website or application through a login portal is not an effective process, it is still commonly used in our digital lives. Almost everyone goes through the login process every day. From a user’s point of view, the login experience of a website or app is just as important as any other feature. Everyone wants everything done quickly and simply, including this login process. Often, even some of them complain about the need for a few steps to log in before accessing what they want. However, does the ease of access of the login process always benefit customers? Yes, in terms of effectiveness and customer experience, what about security?

Vulnerabilities in Password-Based Login

Single-factor authentication refers to the login method that needs a username and password before access is given. Despite modern technology advancements, many people still fail to recognize the urgency of password use and security. So, most of them prefer a simple and fast login process such as single-factor authentication. Passwords are often reused across several accounts, both personal and corporate accounts. The increasing expertise of hackers will make it easier for them to perform data access breaches through password intrusion.

According to CNET, hackers have published up to 555 million stolen passwords on the dark web since 2017. As a result, you must enable a multi-factor authentication solution on your login access system to prevent your passwords and customer and company data from being exposed. Strong authentication, such as multi-factor authentication, will force hackers to provide other forms of authentication and usernames and passwords to access. Thus, if their efforts to disable secondary authentication fail, hackers will instantly stop.

Enable Multi-factor Authentication

Multi-factor authentication (MFA) is a collection of technologies to verify a user’s identity. This technology solution will use a two-step or more approach to convince the system that the person logged into the account is a legitimate user. Although hackers can still go through multi-factor authentication, this solution is still very important to prevent the possibility of hackers continuing their hacking. Physical authentication (biometric data), email and phone numbers for backup codes (OTP), push notifications, and other advanced methods are commonly used in multi-factor authentication. To achieve truly secure authentication, the authentication procedure must include at least two technologies from different technology categories. By prioritizing multilayer authentication security, you can protect your company and consumer data from hacker suppression. Although customers want the simplicity of the login process, your company should still prioritize security through simple multi-factor authentication.

How can PhinTech assist you in Implementing Multi-Factor Authentication?

Being in charge of sensitive data belonging to your customers and your employees may appear challenging and unsafe, especially for companies engaged in the financial sector. However, you don’t need to be worried and confused about selecting the right multi-factor authentication solution provider. You can entrust everything related to implementing multi-factor authentication solutions to PhinTech. PhinTech will assist you in offering efficient security consultation, allowing speedy deployment of solutions, and providing 24/7 support services. Implementing a multi-factor authentication solution with Phintech will ensure your customers and enterprises get an easy and secure login authentication experience.

Get more information about Multi-Factor Authentication solutions by sending an email to marketing@phintraco.com.

Reference:

https://www.onespan.com/blog/hackers-love-companies-dont-use-multifactor-authentication

https://www.onespan.com/topics/multi-factor-authentication