In a recent Verizon Data Breach Investigation Report, it was revealed that 81 percent of data breaches were caused by compromised passwords. This is when many businesses realized that passwords were not solving their security problems and began to look for alternative authentication options. One such option is passwordless authentication, which is seeing a surge in popularity due to its enhanced security benefits. In this guide, we will discuss what passwordless authentication is and how it can benefit your business.
What is passwordless authentication?
Passwordless authentication is a form of user authentication that relies on something other than a password to verify the identity of a user. It can involve any number of methods, such as biometric scanning, one-time codes sent via SMS or email, or even the use of personal devices like smartphones. The idea behind it is that passwords are too easy to guess or too easily forgotten, so a more secure form of authentication is needed.
What are some of the types of Passwordless Authentication?
One-time codes – This type of authentication involves the user receiving a code via text message, email, or other applications that they can use to login once. This code is typically only valid for a short period of time.
Biometric scanning – Biometric scanning utilizes an individual’s unique physical characteristics, such as voice recognition, fingerprints, facial recognition, and more to authenticate a user.
Hardware tokens – These are small physical devices that can be used for authentication. It requires the user to input a token code in order to access the system.
Magic Links – This is an email or SMS message that contains a link to the application. When clicked, it takes the user directly to their account without needing any additional authentication steps.
The Benefits of Passwordless Authentication
Passwordless authentication offers multiple benefits for businesses and their users. Here are just some of the advantages:
• Increased Security: Since passwords can be easily guessed or stolen, passwordless authentication eliminates this issue by relying on something more secure. This makes it virtually impossible for hackers to gain access to accounts since the authentication method is much more difficult to crack.
• Improved User Experience: Passwordless authentication also provides a better user experience since users don’t have to remember and type in long passwords. This makes logging into accounts faster and simpler, which is especially important for users who access many accounts.
• Cost Savings: Companies can save money by not having to invest in password management software or additional IT staff to manage passwords. These cost savings can then be invested into other security measures, such as two-factor authentication.
Passwordless authentication is the future of user security but there are many considerations to evaluate before implementation. Companies should assess the risks and benefits with their security team before making a decision. However, it is clear that passwordless authentication is an important step in improving user security and creating a better user experience.
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