Multi-factor authentication, or MFA, requires more than one step for users to log in to an account in order to improve security. Rather than just entering your password to log in, you’ll need to perform a second step to confirm your identity. You probably already use some form of MFA with your personal accounts. For example, you have to enter a PIN after swiping your ATM card, and often have to use a text or email verification code when you’re trying to log into an account on a new device.
Understanding Multi-Factor Authentication
Usually incorporated through an app, email, text message, phone call, or physical token, MFA is a highly effective cybersecurity measure that’s easy for startups and high-growth businesses to integrate into their workflow.
The concept is relatively simple. MFA isn’t just providing extra information about your identity, but providing different types of information. Types of MFA can be broken down into three categories — what you know, what you have, and who (or what) you are.
What you know: This includes your usual username and password information, as well as PINs and answers to security questions.
What you have: MFA can verify that you have access to a device or account by sending a verification request to your phone, laptop, or email address.
Who/what you are: More advanced MFA methods can confirm identity through fingerprint recognition, retinal scans, voice verification, and more.
By factoring in multiple verification criteria, MFA login ensures that the user accessing your business’s sensitive information is who they say they are, not a bad actor who has cracked the password to an employee’s account.
Why Do I Need MFA?
Moving data online has helped many businesses improve productivity and expand their reach. But with this shift has come a new set of risks, particularly an increased threat of cyberattacks. Implementing MFA on your company’s accounts is one of the most effective and simplest things you can do to prevent an attack.
There are many ways hackers can get a user’s password so without MFA, they can easily get into one of your employee’s accounts and into your company’s sensitive information. From bank accounts, to social security numbers, to client billing, insurance, and health information, a cyberattack puts all of the private information stored in your organization’s databases at risk.
MFA adds an extra layer of protection because not only does a bad actor need the password, they also need to have to provide one of the extra pieces of information mentioned above, which is much more difficult to get.
How Will My Business Benefit From Multi-Factor Authentication Solutions?
We believe that implementing MFA is one of the most effective and simplest and cheapest ways to protect your company’s cloud data. When your business incorporates MFA, you greatly improve the security of your data from cyber threats at minimal user inconvenience. You also assure your customers that their data is safe behind your virtual walls in compliance with regulating bodies like HIPAA and PCI-DSS.
Get in Touch With Us Today
A strong MFA solution allows your organization to navigate the increasingly digital market safely and confidently. To learn more about how MFA can benefit your business, reach out to Kinetix today!
