July 28, 2022 8 Benefits of Implementing Multi-Factor Authentication

An article all about the various benefits of multi-factor authentication (MFA).

When it comes to data safety, authentication techniques play a major role. Most innovative in that landscape is the multi-factor authentication (MFA) pattern. It adds multiple layers of authentication over the traditional username and password approach.

MFA is proven to be effective in stopping fraud attacks and data exposure in data breaches. As per Microsoft’s analysis, MFA has the potency to prevent more than 99 percent of attacks on your account.

Today’s article is all about the various benefits of multifactor authentication.

What is MFA?

Typically, authentication finds if a user is genuine or not. MFA takes this to another level by adding several authentication layers within the process before granting the user access to his account. MFA asks multiple questions pertaining to the user to determine if the user is legit.

Difference between MFA and 2FA

2FA is nothing but a subset of MFA, which needs the user’s proof of identity from two categories. Examples of 2FA are TOTP (Time-based One-Time Passwords) and HOTP (Hmac-based OTP). Contrariwise, Multi-factor authentication adds more than two authentication categories before allowing access to the account. This approach makes it exponentially difficult for hackers to infiltrate an account.

Benefits of Multi-Factor Authentication

This section dives into eight primary advantages of MFA.

#1. Reinforcing account security:

Multiple credentials before accessing an account can be useful if the first layer passphrase has already been hacked by a cybercriminal. MFA also protects stolen devices along with other information inside a given network. Most IT professionals understand the efficacy of MFA. Hence they put their trust in these protocols to protect their data on devices or in the public cloud.

#2. Customizability:

MFA is a customizable security solution that presents various options to enterprises. As a result, different industries can personalize their user experience to meet the particular needs of their customers. If users prefer fingerprint scanning over OTP, then MFA can provide a flexible solution to implement the former effortlessly. For most use cases, 2FA may be sufficient. However, for more confidential data, three-factor authentication can help by including voice or face recognition measures.

#3. SSO compatibility:

SSO or Single sign-on allows users to have multiple unique passwords to access their account. Thus, one can eliminate the risk of reusing the same password time and again. MFA can seamlessly be integrated with SSO and embedded into applications for verifying a user’s identity while being time-efficient.

#4. Adaptability:

MFA can adapt to different use cases. Where high-value monetary transactions or dealing with sensitive data from unknown sources are concerned, MFA can provide greater protection. Adaptive Multi-factor authentication uses behavioral and contextual data such as time since last authentication, geolocation, and IP address to assess the threats. Once red flags are identified it can bolster its strategy for user identification.

#5. Enterprise-level scalability

Enterprises need scalable security solutions for their diverse user bases.

MFA can combine all its features to cater to the company’s growing user base with SSO, MFA streamlines the login process and improves user experiences, significantly reducing multiple failure points leading to social engineering attacks.

#6. Risk of compromised passwords decreases:

A proper MFA setup in place can help you ward off hackers trespassing your account even when they possess your passwords. Individuals, who often reuse passwords across various websites, face this problem. But MFA can give them peace of mind as the hackers cannot access the account without other types of authentications.

#7. Encouraging enterprise mobility:

The post-pandemic workforce requires a safe digital environment to carry out daily tasks without compromising security. As remote work or work from home is getting prevalent in the industry, MFA becomes an essential step towards securing enterprise resources 24/7 through a flexible authentication system. As a result, data protection in enterprises can be more portable than ever.

#8. Adheres to the regulatory measures:

As far as industrial regulatory compliances such as HIPAA are concerned, MFA does a great job of securing data by preventing unauthorized access from unknown sources.

The bottom line

MFA is an effective way for enterprises to prevent cyber threats from occurring in the first place. It is arguably the number one cyber security solution that even individuals need to add to their daily online activity. Remember, MFA doesn’t just protect your data, it provides you peace of mind.

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