25th August, 2021 6 Min read
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Memorizing long and complicated passwords has been holding back businesses for over 50 years, while cyberattacks are evolving every day. ¹ In fact, Google has registered over 2 million phishing sites as of January 2021. The figure is up from 1.7 million in January 2020, a 27% increase year on year. ² On top of that, the latest Verizon 2021 Data Breach Investigations Report states that 61% of breaches utilize compromised credentials.
Now, with remote work becoming a new norm for many professionals, and with both small companies and international corporations hiring talent from around the globe, demand increases for platforms and software that simplify the login process, while simultaneously enhancing enterprise security. Many of those solutions promise to free the organizations completely from passwords and their increasing TCOs. Only this June, Transmit Security announced a $543 million Series A. Transmit’s appless biometric authenticator, named BindID, leverages a device’s built-in face or fingerprint scanner.
But is Transmit’s solution all that special? Let’s have a closer look at the passwordless trend and its different interpretations.
Passwordless authentication is certainly a step forward in enterprise security and can help safeguard sensitive data from cyberattacks.
The main benefits of a passwordless authentication process are evident:
So, what are the different types of passwordless authentication available for implementation today?
One of today’s most advanced IAM platforms (also considering integration catalogue and level of workflow automation) is Okta. With Okta’s integrated Single Sign-On and Adaptive Multi-Factor Authentication solutions, organizations can take advantage of risk evaluation derived from context, i.e. user, location, device, or network. This means you can restrict access from high-risk login attempts and require one or more strong authentication factors – none of them is necessarily a password. Managed, secure and compliant devices can sign in, but unknown and unregistered devices will be subject to multi-factor authentication. Should malware be detected, future login attempts will be denied from a particular device.
Okta also has a FastPass solution to improve user experience, ideal for companies who hire freelancers, contractors, and remote workers. Users can sign in on any device, reducing the frustration and time needed to reset or change passwords. This solution will be available soon, and will further enrich Okta’s passwordless offering. Read more about it in our fresh new eBook: Move Beyond Passwords.
Now, let’s review the top vendors that already integrate with Okta to create a passwordless MFA+SSO experience.
Use HYPR to transform a smartphone device into a FIDO Token. FIDO-Certified, HYPE offers a platform powered by Public-Key Cryptography and Open Authentication Standards. Backed by Samsung, Mastercard, and Comcast, it can help businesses minimize phishing, fraud and enhance business security. HYPR also eliminates fragmented identify infrastructure, unifying all of your remote login experiences, allowing companies to protect themselves online while permitting remote work.
Veridium uses biometrics such as face and fingerprint identification to restrict and permit user access. A secure MFA-backed solution, it allows users to authenticate apps and secure transactions at scale efficiently. Used within the finances, healthcare, and government sectors, it allows for rigorous security protocols which support highly-demanding compliance requirements.
Secret Double Octopus offers user-friendly MFA deployable both in cloud-native and legacy environments. Instead of entering a password, users simply approve an authentication request delivered in the form of cryptographically secure push notification to their mobile authenticator app, or FIDO2-compliant authenticator. Layering biometric authentication to access the authenticator itself results in passwordless MFA. Able to integrate with a wide range of apps such as Okta, Slack, HubSpot, Digital Ocean, salesforce, and WordPress, it is ideal for technology and eCommerce businesses.
With vulnerabilities identified in the current passwordless authentication methods, does the future of cyber security promise a higher level of security that will empower businesses and employees?
Well, the security sphere is certainly reactive in its response to cyberattacks, and there are plenty of new and innovative vendors offering advanced passwordless authentication alternatives. The problem is, analyzing each individual offer and deciding if it’s a good fit for your unique business model can take time. And, failing to choose the right option in a world where passwords are becoming obsolete means putting your business at risk.
With so many options available, it can feel a little daunting to analyze each and every passwordless authentication provider on your own. At GlobalDots, we invest a significant amount of time and resources testing this category’s most cutting-edge vendors. With our expert insight, we pinpoint the best passwordless authentication provider for your business use case. You no longer need to conquer the quest for supreme enterprise security alone.
A world leader in implementing B2B cloud and web innovation, we have helped over 500 business clients integrate enterprise-grade security solutions. Our team considers compatibility and integration depending on your architecture, headcount, and industry. By using a seasoned and certified integration partner like GlobalDots, you earn complete peace of mind that the implemented solution is bespoke to your unique business needs.
Upgrade your level of cloud security by introducing passwordless authentication and integrating today’s most potent IAM platforms.
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