Multi-factor authentication (MFA) is a type of security system that requires three or more authentication factors from a user to access an account or network. According to Microsoft, 300 million fraudulent users try to sign in daily to their cloud services but they estimate enabling multi-factor authentication can reduce this by 99.9%.
In your organization, there are different types of authentication factors that you can set up for your employees: setting passwords and security questions, possession-based authentication such as one-time codes accessed through email or SMS, IP address verification, and enabling biometric authentication.
Combined, these components provide even more security by implementing adaptive multi-factor authentication, making your system less likely to succumb to cyberattacks.
What is Adaptive Authentication?
Adaptive authentication, also called risk-based authentication (RBA), is a system that validates users and their authorization levels based on their position within the organization, location, and behavior. It then creates a profile on the types of authentication steps that your employee or groups of employees need to go through.
The system continuously assesses itself, ensuring that it’s up-to-date and maintains high levels of security. Whenever a user attempts to log in, it assigns them a risk score based on varying aspects such as:
- Type of data they’re trying to access
- Location (country, city, or if they’re using a public network)
- Type of device
- Type of browser
- The action they’re trying to perform (editing documents or information)
Depending on the risk score and the amount of sensitive information the user is accessing, the system will ask for more types of authentication.
The user’s ongoing behavior while logged in is also regularly assessed. For instance, if they’re attempting to download amounts of data without having done so before, the system will give stricter protocols.
Why Use Adaptive Authentication?
Static authentication methods are more prone to cyberattacks because these procedures do not change, making them easy to track and hack. An adaptive system on the other hand safely guards critical information due to the layers of protocols a user needs to navigate.
Here are more reasons that you should consider using adaptive authentication for your company:
1. Improved remote security
If you have employees working from home on a personal computer or logging in from another country, the system considers these factors and imposes stricter protocols. Even if coworkers have the same role but work away from the office, the adaptive authentication measures may assign them to a higher risk score.
Having these layers of security for those reporting outside the office is vital because you don’t know how well-protected they are from hackers. Expert Insights found that 60% of companies that asked employees to work remotely experienced attacks from fraudulent users.
2. Reduced password risk
A Google survey reveals that about 52% of individuals reuse their passwords for multiple accounts. This huge population makes it easier for phishers to access networks and platforms with the right technique and technology.
Having adaptive authentication in your company means that not only will employees need to have strong passwords, but it reinforces protection by several other measures, such as two- or multi-factor authentication incorporating biometric scanning.
3. Fewer costs on security systems
Having the right system in place from a trusted provider means you do not have to spend much money on different types of security software. Instead, focus on more critical aspects of running and managing your organizations, like streamlining operations and nurturing customer relationships.
4. Compliance regulations adherence
Many industries, particularly the banking and healthcare sector, need robust security systems because of the sensitive data they’re handling daily. An IBM Security 2021 report revealed that the median cost of a data breach was $4.24 million, which can negatively affect a company’s finances and their customers’ trust.
With adaptive authentication measures, you significantly reduce the risk of breaches and other cyberattacks in your organization. Additionally, machine learning helps the system safeguard customer information, especially financial and medical reports.
5. Smooth user experience
One of the downsides to a static authentication system is that it requires users to go through several processes to gain access to an account or network. While these are good for those who need to work with more confidential data, it’s tedious for those who only need access to their basic information.
If you have customers with an account in your system, too many layers of security may give a bad user experience. Because adaptive authentication considers the behavior, role, and data an individual is trying to access, the approach prevents them from undergoing multiple methods to access lower tiers of information.
Adapt and Overcome
Due to ongoing cyberattacks, implementing adaptive authentication is the logical next step in providing the best type of security for your company.
Because it’s constantly learning, the adaptive authentication system acts when it detects suspicious behavior and responds accordingly by giving stricter protocols. It’ll also allow you to remain compliant if your industry heavily deals with customers’ private information by minimizing data breaches.
If you’re looking for identity and access management solutions to upgrade your organization’s cybersecurity measures, consider Q5id. Our comprehensive proving and authenticating technology verifies identities and transactions in seconds and allows you to see who’s accessing your system at any time.
Contact us today to learn more.
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