As modern technologies continue to evolve, so do the threats that organizations and individuals face. Over the last few years, cybercrime has reached an all-time high. To be more specific, identity fraud and credential theft cases have led to costly damages across all industries.
In 2021, a staggering 80% of hacking-related incidents were due to compromised passwords. Given the vulnerabilities of traditional passwords, it’s high time your organization starts considering alternative security measures. Fortunately, proven security methods such as passwordless authentication can easily bolster your security infrastructure.
A Deeper Look into Passwordless Authentication
In general, passwordless authentication is an alternative way of verifying an individual’s identity without the need for a traditional password. By removing the risk of credential theft, users can gain easy and secure access to their accounts and resources. There are many forms of passwordless authentication, but the most common are security keys, magic links, and most notably, biometric authentication.
Perks of Going Passwordless
Using passwordless authentication can help with your network’s security. Because of its easy implementation and general flexibility, it continues to gain traction across all industries. Here’s a better look at the benefits you can get from going passwordless.
Reduced risk of successful phishing attacks
Passwordless alternatives prevent your login credentials from getting stolen and falling into the wrong hands. Since you can’t steal something that’s not there, this can greatly reduce the success of a phishing attack.
Optimized cybersecurity infrastructure
In addition to credentials being leaked, poor password practices can also take a toll on your organization. If your employee reuse passcodes or makes use of easy-to-guess phrases, hackers will have an easier time infiltrating accounts. By removing this point of vulnerability, passwordless authentication can significantly improve your cybersecurity infrastructure.
Better supply chain security
Passwordless authentication makes it harder for outsiders to infiltrate your network. Using inherence (something you are) and possession (something you own) factors as keys will make it harder for external and insider threats to install malicious software.
Support requirements reduced
Since passwordless authentication eliminates the need to remember special phrases or codes, users experience fewer issues with logging in. As such, there is a reduced need for support for password resets and related issues.
User-friendly multi-factor authentication (MFA) solution
In addition to using biometric-based solutions, passwordless authentication can be implemented in other ways. This includes one-time authentication links or one-time pins sent to you via email, SMS, or an authenticator app.
FAQs and Misconceptions Regarding Passwordless Authentication
1: Is passwordless authentication really more secure?
Yes, going passwordless gives better security since you won’t have to remember codes and worry about stolen credentials. Service providers also adhere to guidelines such as the FIDO2 standard to ensure that your security needs are met.
2: Is passwordless authentication difficult to integrate?
Passwordless authentication can be integrated into any business to improve your overall security. If you’re looking to install cloud-based services, make sure to partner with a reliable vendor such as Q5id.
3: I’m worried about the use of biometrics violating my privacy.
A suitably secure and privacy-minded biometric authentication system will have privacy protections at the heart of its design. Ideally, users would be able to have self-sovereign identities, where they have full control over their identity and how it’s used.
4: Can you only use your phone for passwordless authentication?
No, using your smartphone is only one of many passwordless login methods you can use to access your data. You can also use other methods such as MacOS Touch ID, FIDO Security Tokens, Windows Hello and smart cards.
5: Is passwordless authentication limited to particular systems?
Passwordless authentication can be incorporated into all types of systems to best suit the security needs of your business, although it tends to be easier to do so in the most modern or recent systems and technology. Considering its growing popularity in different industries, there can be greater implications for this system in the future.
6: Won’t passwordless authentication spike the volume of support tickets?
No, a large chunk of support tickets are caused by password reset requests. But with a passwordless solution, the IT team can focus on other initiatives, rather than a mountain of password resets.
Seamless Security Solutions
With the prevalence of cybercrime constantly rising, it is important to keep your institution safe. If you’re working in large-scale industries, such as telecommunications, finance, or healthcare, the amount of data you’re handling will make your company a prime target of cybercriminals.
While using strong password practices can help you stay safe, you should keep your mind open to additional security methods. To stay safe from fraudsters, take this as an opportunity to use modern advancements such as passwordless authentication.
Contact us today to learn more about Q5id’s authentication solutions.
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