Posted: January 10, 2020
Submitted by: https://www.loginradius.com/

The Death of Passwords in 2020 And Beyond

Passwords Are Dead: Long Live Data Security

Let’s not mince words. It’s time to kill passwords before they kill your business.

That may sound dramatic, but with the onslaught of data breaches the world over, it’s clear that if passwords aren’t dead yet, perhaps they should be.

The culprit is password fatigue. It can seriously threaten the security of your enterprise and your customers.

Password Fatigue Leads to Risk
Faced with too many passwords to remember, customers commonly resort to reusing a simple password. That, unfortunately, can easily be cracked—and be used on multiple accounts.

These weak, recycled passwords put your enterprise at risk. They’re just too easy for hackers to brute force their way into customer accounts and steal data.

The consequences of weak passwords can be dire for your enterprise.

After a breach of any sort, customers lose trust in you and take their business elsewhere. This impacts your bottom line for a long time to come.

However, there is immediate action you can take:

Multi-Factor Authentication
This method keeps passwords, but each time a customer tries to log in, the system sends them a unique code, which they must submit to gain access to their account.

Risk-Based Authentication
This system also uses passwords, but only allows access if the customer’s usual login behavior, e.g. location, browser, and device, is matched.

Third-Party or Social Login
This approach removes the need for passwords, by allowing customers to log in to your services through Apple, Facebook, or other social media sites. Apple even has biometrics in the form of Face ID.

Passwordless Authentication
When a customer wishes to log in, the system sends a one-time passcode or link to their phone or email account. This grants them passwordless access to their accounts.

In the meantime, here’s an infographic created by LoginRadius, a customer identity and access management solution, showing the rapidly changing face of passwords—including passwordless authentication.

Original Post: The Death of Passwords in 2020 And Beyond

Tags: #business #security #Techonology

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The Death of Passwords in 2020 And Beyond