Likely Increase in Usage of Two Factor Authentication

ATLANTA, GA – March 13, 2017

Increased sophistication and pervasiveness of hacking has resulted in many high-profile breaches of security over the last few years, compromising personal information of everyone from email account holders, to federal employees. While many organizations have responded with increased vigilance and more stringent password requirements, the combined threats of brute force attacks, phishing scams and malware are forcing many businesses and consumers to consider additional security measures to reduce risk.

One approach that is likely to be employed in the fight against fraudsters is two factor authentication (TFA). Two factor authentication relies on entry of both a password and a second key, typically system generated, to complete the authentication process. The practice has been around for years, with codes generated by key fobs slowly being replaced by SMS codes or desktop applications for enterprise users. However, the increased risks of fraud are bringing this practice into the consumer world, as government branches such as the social security administration introducing SMS as a part of a plan to improve security.

As consumer familiarity with TFA increases, businesses should look to adopt it as a means of improving customer security and confidence. In order to deploy this in customer environments, organizations will need to be forward thinking and have the necessary technology to roll this out without dramatically increasing customer friction. If organizations fail in this regard, they risk customer push-back and reduced adoption of increased security measures.

 

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