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Not even a single month has passed without hearing the news about another data breach or ransomware attack against small-to-large organizations. It is one of the limitations of such rapid technological growth. Cyber security professionals are increasing defenses quickly, but on the other hand, attackers are also enhancing their networks and increasing attacks. The MFA plays an important role here.
To protect the personal data as well as the data of their customers, along with decreasing the risks, individuals and businesses have to find safer and trustable sources. Multi-factor authentication (MFA) is one such source that business owners should consider using to add an extra layer of security to account logins.
Multi-factor authentication (MFA) needs extra confirmation of a user’s identity rather than simply entering a password. This may sound like an easy process, but in reality, there can be some complexity to the setup process when implementing it across a whole company.
You must be wondering what are the benefits of Multi-factor authentication (MFA). How to implement it? How does it work? Does your business need an MFA? Ugh! Too many questions. No worries. This blog has answers to all your questions. So, be with us and know the answer to all your questions.
What is MFA and How does it Work?
In simple words, authentication needs proof that users are who they say they are. Multi-factor authentication (MFA) is an authentication method that requires more than one password. It takes a step further by wanting users to provide proof of two or more authentication factors (categories) before granting access to the right user. Any unauthorized user or hacker will be able to steal a password or buy it on the dark web, but it will require even more effort for them to gain access to a second authentication factor, which is slim. Its main use of MFA is that it will stop unauthorized users or hackers before they can enter your systems and gain access to your data.
Why is it Important to Use Multiple Factors of Authentication?
Having a single compromised password permits hackers or unauthorized users to disrupt your sensitive data, as other forms of authentication are not required to access the system or any data. In the whole world, ransomware and other cyber attacks have become a top priority on the cyber security agenda. Regardless of whether or not cyber security training may be provided by companies, employees still fall for phishing tactics or share passwords out of convenience. Customers can also fall victim to scams or have their data stolen. This disallows these hackers or unauthorized users from using compromised credentials to enter your systems because they cannot provide the second and/or third authentication factor.
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Benefits of MFA
Hackers are restricted from using stolen passwords, devices, or other types of information to access your data as MFA requires users to provide multiple credentials before granting access to accounts. Ping Identity’s recent survey concluded that security and IT professionals consider multi-factor authentication to be the most effective security control which is necessary for protecting on-premises as well as public cloud data.
Reduces Risk from Compromised Passwords
Instead of being the most common form of authentication, passwords are the least secure. Passwords can be stolen or guessed easily by hackers as people may reuse or share them, which leads to exposure for account holders and system administrators.
Compatible with Single Sign-On (SSO)
MFA can be integrated with Single Sign-On (SSO) and can be embedded into applications. No longer do people have to create multiple different passwords or make the risky choice of reusing the same password for different applications when logging in. Saving time and improving productivity, MFA along with SSO will reduce friction while verifying the user’s identity.
Enables Enterprise Mobility
Remote work has become necessary for many organizations during and after the pandemic to speed up digital transformation. Organizations have to increase productivity by allowing employees to use mobile devices to easily and securely access resources. Using MFA to log into business applications protects the networks and data, along with increasing flexibility and 24/7 access for employees, especially when integrated with SSO.
Customizable Security Solution
Every authentication factor provides multiple options, powering organizations with the ability to customize the user experience to meet their requirements. For instance, users might have access to fingerprint scanners on their smartphones, but not retinal or voice recognition scanners. Two factors may be enough in some circumstances, while others may require all three authentication factors.
Why Do You Need Multi-factor Authentication (MFA)?
Passwords Are Weak
Passwords are not really the most secure way to protect your private information, despite the fact that they have always been the default security measure. After all, more than half of the data breaches happening in today’s world are the result of passwords being either too weak or easily stolen.
Only some of the users make strong passwords, instead using ones that are easy to remember (and easy to crack). But even those users can fall victim to identity scams that use strong passwords. Hackers can hack, log in and take whatever they need if there is an absence of MFA security.
Makes Logins Easier
Undoubtedly, MFA can really make logins easier for your staff members. For instance, to avoid login fatigue, single sign-on (SSO) software can be enabled. To access multiple business applications, this software only requires an initial user login.
Safe from Identity Theft
Identity theft is a threat to all organizations as it is an easy, low-risk, high-reward type of theft. It is the fastest-growing type of threat and is now more profitable, which encourages hackers to hack it. MFA saves organizations from this.
Summing Up on MFA
When set up properly, Multi-factor Authentication (MFA) is one of the easiest and least burdensome forms of security that any organization can implement. Taking into account the rising cybersecurity risks in today’s digital landscape, there is absolutely no reason that any businesses or individuals should not be considering the benefits of this solution. Your organization’s multi-layered security will go far in protecting your critical business data if you invest in the latest and most up-to-date tools.
Are you looking for a Multi-factor Authentication (MFA) solution for your organization but confused about which one to choose? No worries! Our Sennovate Experts are here to help you choose the best MFA solution for your organization.
Hope this blog helps you to understand how to Architect an IAM solution for your startups and the benefits of IAM solution. Creating an effective IAM program goes beyond simply monitoring network access and updating users’ accounts. Sennovate is partner with various IAM solutions like Gluu, Forgerock, and others. Is your company ready to build an identity and access management architecture? Sennovate’s experts are here to help you.
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Sennovate delivers custom identity and access management (IAM) and managed security operations center (SOC) solutions to businesses around the world. With global partners and a library of 2000+ integrations, 10M+ identities managed, we implement world-class cybersecurity solutions that save your company time and money. We offer a seamless experience with integration across all cloud applications, and a single price for product, implementation, and support. Have questions? The consultation is always free. Email [email protected] or call us at: +1 (925) 918–6565.