10 Benefits to Using MFA for Your Business
In business, data and company information security is paramount. Due to this, multi-factor authentication systems are available..
They are an improved way to facilitate and ensure data security. All information saved on the company’s systems stays away from prying eyes. Additionally, multi-factor authentication makes it harder for information to be stolen by hackers. It is not enough to formulate a username and password. You should incorporate other identification features that assure security and prevent risky situations that compromise your clients’ information. MFA has endless advantages for an organization. Firstly, it’s vital to understand the system and get it to work best for you.
What is Multi-Factor Authentication?
Previously, all you needed to access company accounts and systems was a username and password. However, times have changed, and it is now recommended that log-ins be layered to prevent any breaches. Primarily, multi-factor authentication aims at providing a layered defense. Layering makes it more difficult for an unauthorized person to access your systems. Hackers target your physical location, a computing device, your network, or your database. When one factor is compromised, the intruder has at least one or more security checks to go through. Multi-factor authentication combines the following for utmost protection:
- A password
- A security token
- Biometric verification methods
Multi-Factor Authentication Methods
Authentication methods seek to ensure that whoever requests access to a system and its information is genuine. The user shouldn’t be impersonating something or someone else. Besides, these methods make a hacker’s job more difficult. While they may not entirely keep away intruders, multi-factor authentication methods discourage hackers from breaking into your organization’s systems. Some authentication methods include:
Knowledge-Based Authentication
This method incorporates passwords, personal identification numbers, as well as one-time passwords. These details are only known to you. Suitable systems also allow for the provision of information such as your pet’s name to gain system access. Unless the hacker knows you personally, they cannot accurately guess your pet’s name. Alternatively, you can store all your tokens safely on a tool like Obsidian. Here, you can link all devices and access systems with one tap.
Possession Based Authentication
For this method of authentication to be successful, users have to have specific devices in their possession. An example is mobile authentication, which allows the system to send a text message with a unique time-bound code to your mobile phone. This code cannot be viewed on any other device and will prevent hackers from impersonating you.
Inherence Factor Authentication
Fortunately, advancement in technology has made it possible to incorporate biological traits into the authentication process. This method includes the following:
- Fingerprints
- Iris scans
- Facial recognition
- Voice authentication
These biometric authentication methods require a reader, database, and software to convert scanned data into digital information, after which access is granted. The inherence factor-based authentication method might be the safest because it is impossible to duplicate biological data.
10 Benefits to Using MFA for Businesses
Once you get a simple to use and proficient multi-factor authentication system, your mind will be at ease. Therefore you get to focus on other aspects of your business. On platforms like Obsidian, you have a two-factor authentication option as well. You can store your tokens and sync devices through this multi-device application, thus easing your log-in sessions. Here are some perks of using multi-factor authentication for your business:
1. MFA Facilitates Stronger Authentication
Multi-factor authentication use is growing exponentially. It reduces the risk that organizations might encounter. MFA is all about facilitating access after rigorous security checks. This strict process reduces weak and obvious passwords and layers the business’ system, thus preventing expensive losses due to intruder attacks. Single-layer protection features cause about 80% of breaches that are prevented with multi-factor authentication.
2. MFA is Adaptable
With more employees working from home, it is necessary to have diverse systems to manage complex log-in requests. In such a case, the MFA system utilizes information such as:
- The device in use
- Location of the user seeking access
- Safety of connection
3. MFA Provides Security and Enhances User Experience
Undeniably, passwords are forgettable. Because of this, most people choose weak passwords to set up log-ins. Multi-factor authentication allows you to add personal details that you are least likely to forget before accessing systems and data. Organizations also make it less cumbersome for users by providing a variety of factors to choose from. The business model also benefits from authentication applications that make it less of a headache to log in to company systems. The multi-factor authentication process assures security without compromising on user experience.
4. MFA Eliminates Identity Theft
Once hackers access client information such as passwords, personal details, and financial data, they can use this data maliciously. Getting multi-factor authentication benefits the organization and its clients, preventing any adverse consequences of weak systems. Through multi-factor authentication, you avoid issues such as phishing and keylogging.
5. MFA Protects Against Weak Employee Passwords
In the quest to secure a company’s systems, it is vital to protect employees too. Hackers might use their weak passwords to bypass security checks, accessing client data and company information. Information can be stolen from social media. It is then used in logging in to private company accounts to access data. If you introduce platforms to ease log in, you alleviate the fear of setting up strong, complex passwords.
6. MFA Mitigates Use of Unmanaged Devices
With employees working remotely, it isn’t easy to control what devices and connections your employees use. However, your organization no longer needs to worry about employee devices and Wi-Fi connections with a multi-factor authentication system. Moreover, you will get notifications upon logging in to determine whether it is authorized or not.
7. MFA Allows Businesses to Stay Compliant
Several state laws require organizations to have strict security measures. More so when dealing with sensitive client information, for instance, physical addresses and financial information. Multi-factor authentication rules out hacking. Thus your business stays up to date on legal requirements.
8. MFA Increases Productivity
When employees are at ease and don’t need to worry about memorizing passwords, they can focus on more important work. Resetting forgotten passwords is time-consuming.By requiring your employees to use multi-factor authentication, they will input personal details like their mother’s maiden name, which they cannot forget.
9. MFA Enhances Functionality of Other Security Measures
When your systems are hack-proof, all other security measures such as anti-virus programs will work efficiently. Whenever hackers obtain information illegally, there is no way to prevent bypassing all other security measures. Since MFA ensures system security, all other measures work in the best way possible.
10. MFA System Reassures Clients
Nobody wants to deal with an organization that is not secured and could compromise their data. Once they learn that their information is safe in your hands, they are most likely to trust you with their details, which smoothens the work process. Putting down solid and efficient security measures puts everyone involved at ease.
Conclusion
Multi-factor authentication benefits your organization in numerous ways. Every bit of information shared on your systems is not misused. Thus, everyone benefits from secure work systems. Businesses can now grow by incorporating platforms such as Obsidian. It eases the log-in processes for everyone in your organization.
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Diana Nadim
Diana Nadim is a guest writer for Millennial Moderator.
