As the world shifts toward the digital space, cybersecurity continues to be a growing concern.
Research shows that financial losses to data-related thefts have amounted to $787,671 per hour, and this figure is expected to increase over time. The rapid increase of technology used for illicit purposes has rendered basic data cybersecurity obsolete, including passwords and personal identification numbers (PINs).
This problem emphasizes the need for better digital authentication modes. Fortunately, security systems such as one-time passwords (OTP) and biometric verification have taken the digital landscape by storm. While they don’t replace traditional passwords and PINs, these new cybersecurity approaches can add more protection for your company’s sensitive data.
Amid many innovations entering the cybersecurity landscape, authenticator applications have become increasingly popular. Both enterprises and individuals have begun using these to keep their accounts and transactions safe.
What is an Authenticator App? How Does an Authenticator App Work?
In addition to passwords, PINs, and other MFA modes, an authenticator app is a multi-factor authentication (MFA) method that adds another layer of protection for your account. It can minimize the chances of account breaches by making unauthorized access more difficult, even if cybercriminals acquire your passwords.
Your company’s most vital asset is information, so it’s important to prioritize implementing high-quality cybersecurity. In this regard, authenticator apps are handy for managing log-ins to work accounts, finances, and client data. They can help ensure your company’s information is safe from theft and attacks.
How authenticator apps work is relatively straightforward. First, you have to sync the app to your accounts. Some apps provide QR codes to make this process simple. Afterwards, any log-in to protected accounts will trigger the app to generate a verification code, similar to traditional OTPs. You’ll have to enter the correct code to enter your account.
You might wonder how safe authenticator apps are. Fortunately, the app doesn’t communicate with your account in any way or memorize your passwords—think of it as a simple code generator. The code expires after the timer runs out or when you’ve finally logged in to your account. To re-login, you’ll need to generate another code.
Applications and Benefits of Authenticator Apps
Companies often utilize authenticator apps to secure their workforce’s email accounts, software, and sensitive data. Moreover, they can help secure non-work data, such as your personal information, location, and private messages.
Overall, an authenticator app protects information similar to traditional OTPs and other MFA modes. However, they often rely on mobile networks that can be compromised, giving authenticator apps an undisputed edge. With these in mind, here are some uses and benefits of authenticator apps.
1. More secure over traditional OTPs
Authenticator apps and traditional OTPs may share similar characteristics. For instance, both rely on codes to verify user identity. However, this is where similarities end.
The validity of traditional OTPs lasts several minutes, giving malicious entities plenty of time to access your account if they obtain a working code. Meanwhile, authenticator app codes expire in under a minute, after which you’ll need to generate a new, unique one. In turn, hackers only have a small window of time to breach your accounts.
So, even if you’ve fallen victim to a phishing scheme, an authenticator app can make unauthorized access more difficult for scammers.
2. General ease-of-use
Using an authenticator app is an effortless way to safeguard your data, eliminating the need for physical security keys. As mentioned, setting it up is a quick process. Simply sync the app to your account, and it’s ready for use. Most apps can even protect multiple accounts, securing your information under a single safeguard.
Some users may be concerned about stolen devices. After all, fraudsters can take your device to access your accounts if you’ve turned your device into a master key. However, many authenticator apps can be remotely locked to prevent wrongful access to security codes.
3. Complete independence over mobile networks
There’s a risk of hackers attacking telecom company servers to access sensitive user data, including OTPs. Moreover, there are cases of malicious entities routing phone numbers to their phones to gain access to your accounts through traditional OTP verification. These cases show how risky it is to rely on traditional OTPs alone.
On the other hand, authenticator apps don’t need mobile network connections to provide verification codes. The app generates codes without any need for SMS intervention. In effect, even if hackers have obtained control of your phone number, they would be unable to use it to access your account without your device.
Keeping Your Company Secure
It is important for your business to have a sufficient data protection system in place. Our clients need assurance that their information and transactions with the company are safe from cybersecurity threats and attacks. Authenticator apps can address this issue by providing businesses and individuals with secure and easy-to-use data protection.
However, remember that cybersecurity is most effective when different modes work together. Setting authenticator apps aside, making use of proven authentication methods such as multi-factor authentication and biometrics will be a great way to ensure your organization’s security.If you want to learn more and improve your company’s security infrastructure, feel free to consult with us about our cybersecurity solutions.
Contact us to learn more.
"*" indicates required fields
