As cybercriminals become more sophisticated, they are using increasingly complex methods to steal sensitive data. In response, you need to protect your network, servers, and data.
Multifactor authentication (MFA) is one way to do this. According to online security expert Transmit Security, it uses two or more verification methods to help protect your accounts.
In this post, we’ll discuss the benefits of MFA and how you can implement it in your organization.
What is Multi-Factor Authentication (MFA)
Electronic multifactor authentication is the process by which users must provide two or more forms of identification before they can access a website, application or network.
Verifying a user’s identity can be done using one or more of the following in MFA:
- Knowledge Factor: A piece of information only known by the consumer, such as a PIN.
- Possession Factor: Authentication credentials only the user is in possession of, such as a mobile phone linked to a software token or USB flash drive with an encrypted security key.
- Inherence Factor: Consists of something unique to the individual in question in the form of biometric data such as fingerprints, eye scans or facial scans.
- Location Factor: Authentication can only be performed on devices that have been registered or on devices whose IP addresses can be used to determine their approximate geographical location.
- Time factor: This restricts user access to the system for a certain period of time and prevents access outside of that timeframe.
Two-factor authentication (2FA) is a type of multifactor authentication (MFA), but it only uses two of these possible checks to validate and authorize a user’s access attempt. In contrast, multifactor authentication uses two or more of these checks to validate and authorize a user’s access attempt. Because of this, multifactor authentication is a superior choice to two-factor authentication, despite being just as simple to implement.
Benefits of Multi-Factor Authentication
1. Increases the Level of Security
Hackers can’t use passwords, devices, and other specific pieces of information to break into your network if several authentication credentials are required from the user first. According to the results of a recent poll performed by Ping Identity, multifactor authentication is the most effective security policy to secure data housed on-premises or in public cloud environments.
2. Helps With Regulatory Compliance
Regulators in specific industries or regions may call for MFA. The Payment Card Industry Data Security Standard (PCI-DSS) mandates MFA to be applied in specific scenarios to prevent unauthorized individuals from accessing payment processing systems, such as in the case of a bank account or credit card account. The MFA compliance assures that it is virtually non-intrusive even when application modifications have unforeseen and unattended repercussions.
3. Reduces Risk of Password Security Breach
Any time a system relies on a password, it’s vulnerable to cracking or guessing. An employee’s email password is 65% more likely to be used at least twice for other accounts, meaning that if a bad actor discovers that password, they’ve just discovered the password to sensitive or protected data elsewhere on the network as well. Enforcing the use of strong, random passwords is a good idea in general. It’s always preferable to use multifactor authentication when signing in.
4. Convenient for Use with Single Sign-On (SSO) Solutions
Single sign-on can be used in conjunction with multifactor authentication (MFA). Logging into several programs no longer has to be a hassle for users who don’t want to endanger their security by reusing the same password or having several passwords across multiple applications, which increases the likelihood of forgetting them. MFA, when used in conjunction with SSO, streamlines authentication while also speeding up the process for the user.
5. Scalable for Growing User Bases
As your organization grows, so does the flexibility of multifactor authentication. Customers, partners, and staff alike can benefit from MFA because it can be set up for all of them. Incorporating multifactor authentication (MFA) into a single sign-on streamline the login process, improving the user experience and, as a result, minimizes the frequency of calls to the IT department for password issues.
How to Implement Multi-Factor Authentication in Your Organization
Unfortunately, despite the obvious advantages of MFA, putting it into practice may be a difficult undertaking. To make your MFA deployment more successful, follow these steps:
- Improve the knowledge of your customers
- Consider the guidelines of your MFA program
- Consider and accommodate a wide range of potential access requirements
- Don’t use SMS as your One-Time Password
- Make sure you’re meeting all the legal criteria before you get started
- Make contingency plans in the event of lost devices
- Implement multifactor authentication (MFA) for remote worker
- Take a step-by-step approach to implement your strategy: evaluate and revise your drafts frequently
So Why is Multifactor Authentication so Important?
Secure data storage is becoming increasingly important as more firms switch to digital assets and processes. To prevent the loss or damage of a company’s vital records due to fraud or theft, multifactor authentication (MFA) is essential.
