How Two-Factor Authentication Keeps Your Accounts Safe

The heart bleeds bug of 2014 exposed millions of internet logins to scammers and the security systems didn’t do anything to stop them from entering. What can an average internet user do? You will get tips like changing your password regularly. That is just something that can’t be secured. What actually your account wants is a second way to verify yourself. This is where two-factor authentication has come to play. 2FA adds an extra layer of security to your accounts. In this post let us take a look at what two-factor authentication solutions are and how it works.
Core Banking Solution Providers

What is two-factor authentication?

A two-Factor authentication is a form of a security system for our accounts that requires two levels of identification to access it. Also known as two-step verification, this combines your password and username with your phone and your physical security key such as your fingerprint. When you are accessing something online, many sites will ask you to enter a username or password to log in. This is known as one-step verification. However, enabling two-step verification takes you to two stages of verification. The first stage is your username and password. In the second stage, the site will send you a text message to your mobile which will contain a six-digit code or a four-digit code. This code has to be entered to enter the site. This code is known as authenticator or a passcode or verification code

How two-factor authentication works

When you enter an online account with a username and password it is single-step authentication. Here all you need is your password to verify that you are who you are. With 2FA you have to provide a password and a passcode. Most of the apps and services provide 2FA especially for the ones that store sensitive data such as emails, financial information, files, social media, contact details, and so on. The high-risk accounts such as Netflix doesn’t have this form of multifactor authentication.

The need for 2fA

Gone are the days when you blindly trusted your password to protect your accounts. There are various forms of breaches with just a password as anyone can memorize the password. It can also be susceptible to credential stuffing and brute force attacks by hackers. Enabling two-factor authentication services in the right place protects your customer’s account from automated login attacks.
The benefits of 2FA
  • Protects you from a phishing email
  • Enhanced security
  • Boost productivity with mobility
  • Protect against fraud
  • Lower help desk and security management costs

Multi Factor Authentication

Our 2fa service providers have developed the best solution to protect people from online digital threats. The two-factor authentication system is based on two factors
  • Something only the user knows (i.e. the knowledge factor)
  • Something only the user has (i.e. the possession factor)
This system has endless features to make protection against attacks top-notch
  • Ease of integration and installation
  • Strong Authentication to prevent Identity Theft and other frauds
  • Regulatory Compliance
  • Integration PlugIns
  • Multiple Form Factors
  • Encryption and Privacy
  • Simple Administration
  • Possible Integration with Risk-Based Transaction Algorithm
  • Competitive Costs
Applications of the two-factor authentication system
  • Mobile Banking
  • Internet Banking
  • E-commerce
  • POS / Retail Transactions
  • ATM
  • Bank’s software systems
  • VPN
  • Mail Clients

Bottom line

If you don’t have a two-factor authentication system then enable it now to ensure sound security for your information online. We offer our top-notch two-factor authentication system to the customers who need a security system. You can request a demo to learn more about the product.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top