The number of data breaches continues to rise, with more than 37 billion records exposed in 2020. Users frequently attempt to strengthen the security of their data by changing passwords in order to avoid a data breach.
However, passwords alone may not be sufficient to protect personal information. MFA (Multi-Factor Authentication) is used in this situation. MFA is one of the most popular solutions for addressing the common login problems with passwords.
Multi-factor authentication defined information security as a highly important part of data and user account protection. MFA protects your user accounts in an organization against data breaches and unauthorized access. It also protects users even if their login credentials are accidentally revealed. Let’s take a look at the following advantages of multifactor authentication:
It offers more layers of security than 2FA
Multifactor authentication offers more security layers than two-factor authentication. Companies can make MFA necessary for employees and customers to verify their credibility while logging into their accounts. Multiple security layers ensure that persons trying to access the accounts are the ones they claim to be. Even if the hackers try to steal one credential, they will be asked to verify their identity in additional ways.
Easy to implement
Multi factor authentication is simple to use and highly convenient even for beginners. The implementation of MFA will not affect the rest of virtual space in a company or organization. There is nothing complex or difficult in the implementation of multifactor authentication in any business. More a cloud based authentication service makes it super easy to use for beginners.
MFA Complies with SSO
It complies with Single Sign On and other authentication solutions. With SSO you don’t need to create multiple passwords for different applications as it enables you to login into multiple applications with a single set of credentials. Using MFA with SSO enables companies to confirm user identity and eliminate the risk of unauthorized access and data loss. MFA not only saves time but also enhance the security of data.
Increase customer trust
Customers want to know if their data is safe. While the extra steps for authentication may seem tedious at times, consumers trust and appreciate companies that take precautions to protect them seriously.
Reduce operating costs
Notifying customers of suspicious activity on their accounts costs companies time and money. MFA reduces the incidence of fraud by reducing technical support overhead and allowing agents to focus on more complex customer service issues. While successful MFA implementation may incur upfront costs, the investment pays off in the long run.
Simplify secure mobile transactions
Today, more than ever, people do online transactions on mobile devices. Some mobile apps allow their users to buy products directly from their app, which requires greater security against fraud through multi-factor authentication.
Summing Up
These were the six benefits of multi factor authentication. Adding MFA is one of the best actions organisations can take to protect their systems and user accounts from data thefts and unauthorized access.