Every modern application requires a password. Thus, most people use the same passwords for accessing different applications. This ensures that they don’t need to remember different passwords. Also, most people will just click on the remember password option. They don’t want to enter their password every day. Attackers can use this fact for hacking into your accounts. Thus, most companies are using MFA for protecting their business from attackers. In this article, we are going to talk about how MFA can protect your business.
Definition of MFA:
MFA or Multi-factor authentication is a simple process of verifying user identity. You can use two different credentials for verifying your users. This will ensure that attackers can’t access your employee’s account by stealing their passwords.
In MFA, you need to combine Physical, Biometric, and Logical validation. Most companies are using keys and cards for physical identification. You can use passwords or PINs for logical identification. Also, you can use the voice or fingerprint of your employees for biometric identification.
The most famous subset of MFA is 2FA or two-factor authentication. In this, you can combine your user password with a one-time password. This OTP will be sent to their email or mobile. Your employees need to enter both their passwords and OTP for accessing your systems.
The Purpose of MFA:
The main aim of MFA is to protect your network from intruders. It has become an important preventative security measure for modern businesses. Almost every organization can use it for protecting their data and systems. It simply means that you are adding an extra layer of security. This will ensure that hackers can’t easily get access to your data.
Data breaches are becoming more common with time. Facebook security breach was probably the biggest security breach in which the personal data of more than 50 million users was used. Due to this, most tech giants are already using MFA for protecting their data and users from attackers.
Benefits of MFA:
Every business needs to follow some strict compliance or regulations in the modern world. Federal and state governments have already made MFA compulsory for businesses. You need to implement it for protecting your end-users.
If your business is dealing with financial information, social security, and PII, then you need to follow federal and state laws. It is mandatory to integrate MFA with your security protocols. Thus, you can meet your compliance requirements by implementing MFA.
Better business relations
You can build better business relations with your customers and clients by implementing MFA. Your clients want to ensure that their data is secure with you. Thus, you can evoke trust in your clients by implementing the best security controls.
You can use MFA for providing top-notch security to your clients. Most attackers won’t target your business just because you are using MFA. It is almost impossible to break into networks and sites that are using MFA.
It will streamline the login process
Many businesses think that MFA will actually make their login process complex. However, it will actually add an extra layer of security. This will ensure that you can redefine your login process according to your needs. Most users are using the same passwords on different accounts. Thus, if you are not using MFA, then your entire network can get hacked.
Most organizations will use a sign-on or single-login system with their MFA. This will help you in securing your login process. Also, it will ensure that your users can easily login into multiple systems.
SSO or Single-sign-on solution will validate the person’s identity by using MFA. It will first check if the login attempt is legit and authorize your users. Also, they will automatically have access to your other systems. This will depend on their user profile or roles. Thus, they can access all the applications they need without logging in again.
Most businesses think that passwords are already dead. It is very difficult to manage and remember complex passwords. The corporate help-desks were already busy with password reset requests. You can solve this problem by using MFA and SSO solutions. Most SSO solutions already have biometric authentication. Thus, you can eliminate the usage of passwords by using SSO solutions,
Cybercrimes are becoming more common with time. Most organizations now understand the scope of cyberattacks. Modern hackers are also targeting small businesses now. These small businesses are mostly working with a large corporation. Thus, these SMBs can act as a backdoor for attackers. Attackers can hack into big corporations by first hacking into small businesses.
Also, hackers are also trying to corrupt and destroy corporate data. Sometimes they can install ransomware in your systems. This will disrupt your systems and ultimately our business. Also, some hackers can delete your data even after you pay the ransom.
Every employee has access to multiple applications in the modern work environment. These applications might have access to critical databases that you need to protect. Thus, your employees can also access your critical data. You can monitor their usage by using IAM or Identity and access management solutions. These solutions work perfectly with Multi-factor authentication. If you are not using MFA, then it will become very difficult to implement the IAM solution. MFA will actually help you in implementing the best security controls. Most of the security solutions actually work with MFA. The market of MFA will soon cross $12 billion.
Digital transformation has forced businesses to change their procedures. Also, the digital transformation is not going to slow down with time. Thus, you should invest in security solutions like MFA and IAM. These security controls will help you in protecting your digital applications and data from attackers. MFA is offering a streamlined method to businesses. It will ensure user authentication and provide a better level of security to your users. You don’t need to sacrifice ease of access for using it. Experienced MSPs like Bleuwire can help you in implementing MFA and other security controls. They will also help you in creating a security strategy for your business. If you need more tips regarding security controls, then you can contact Bleuwire.