4 Business Benefits Of Passwordless Authentication
Older, more traditional digital security systems use the familiar technique of password authentication. As long as the correct password is given, access is granted. However, in today’s business world, password systems are increasingly more vulnerable and prone to theft and intrusion. Fortunately, passwordless authentication systems are now widely available, and there are four major benefits, according to Entrepreneur.
Theft Reduction
When businesses use passwords, this system, especially if there is only a single point of authentication, is more vulnerable and can lead to more intrusions. Phishing and even brute force attempt like guessing at commonly used passwords all lead to break-ins which can result in identity theft and even stolen data or funds.
Passwordless authentication systems significantly reduce this chance of theft.
Negate Password-Based Attacks
Some of the most common forms of digital crime include “phishing,” which tricks victims into giving up their password, and “keylogging,” which is spyware that monitors what keys are being pressed on a keyboard. Passwordless authentication, however, completely nullifies any criminal attempts reliant on password-based activity.
Techniques such as biometrics that use facial, fingerprint, voice recognition, and passkeys, which rely on encrypted keys embedded in specific devices, are part of the new multifactor authentication system that repels all password-based attempts at theft.
Lower Expenses
Little things add up over time and the amount of time. The expense of handling issues related to password-based security is an unnecessary expenditure that can be reduced or eliminated through passwordless authentication.
Password storage and, more importantly, password administration can be costly. There are also time and financial expenses involved with password resets, password recovery, and dealing with the fallout of password theft when criminal activity occurs. Passwordless authentication reduces these expenses.
Improved User Experience
Customers prefer speed, efficiency, and convenience, but older password-based systems can impede all this. Having to remember complex passwords or managing a number of them can slow down log-ins, especially when customers can’t remember and need a reset to access their own data.
Passwordless authentication is faster, safer, and more convenient. Biometric authentication, for example, requires only what a user always has, such as their voice, fingerprint, or face. This means there is never a question of forgetting an important security element. With additional redundancies, such as passkeys for multifactor authentication, these systems can also be much more secure for everyone.
Increasingly more secure systems are evolving thanks to adopting FIDO technologies that use passwordless authentication systems. If you’re interested in how you can upgrade to passwordless authentication systems, read here to learn more.
