With business owners becoming more and more concerned with their online security, they are finding ways to make their passwords and devices more secure. One of the ways to do that is through the use of 2 Factor Authentication. However, many business owners are asking- what is 2 factor authentication?
Here at CYFOR Secure, we are passionate about making business owners aware of all the things they can incorporate into their cyber security plans to make their business more secure. 2-Factor Authentication is one of the best ways you can keep your employee’s online profiles, as well as your business networks and devices more secure.
With so much in the world of business reliant on digital devices and networks, it’s no surprise that they have become a target for cyber criminals. So, if you’re wondering what 2 Factor Authentication is, let’s find out more.
What is 2 Factor Authentication?
In recent years, there has been a huge increase in the number of websites and businesses who have lost personal and sensitive data through security breaches. With cybercrimes becoming increasingly more sophisticated, many businesses are finding that their security systems are no longer up to scratch and can be much easier to compromise through the use of weak passwords.
Whilst 2 Factor Authentication sounds complicated, describing what is 2 factor authentication is relatively straightforward. It is an electronic authentication method in which a user is only given access to a website or application after presenting two pieces of information which validate their identity. This information could be knowledge, possession or inherence. Knowledge is something the person knows, such as a password or code. Possession is information such as a badge or smartphone. Inherence is something that you are, like fingerprints or voice recognition. Only after this information is presented is a person granted access to a website.
2FA is a multi-layered approach to securing your online accounts and data. Having different authenticators overall makes your data much more secure. 2 Factor authentication is what could be the difference between security and a data breach.
What is 2 Factor Authentication Software?
When you transition to using 2 Factor Authentication within your business, there are 4 ways in which this can be done.
The first method of 2-Factor authentication is through Hardware tokens. You would give your employees a key fob that produces codes every few seconds or every minute. This is often done to get into a building, and is one of the oldest forms of 2 factor authentication.
The second way is through Push Notifications. This type of 2FA sends a notification to the employee’s phone to approve, accept, deny or decline access to an app or website. This would be a good way to verify your employees identity before they access sensitive material.
SMS verification is similar to push notifications, in the sense it uses the employee’s smartphones. The user will be given a link or code to use in the text, which will verify their identity.
Both of these smartphone methods are pretty secure as most people now carry smartphones everywhere. Having an interactive method such as this can also make it easy to explain to your employees the questions they may have, such as ‘what is 2 Factor Authentication?’ and ‘why is it important?’
One of the other methods is voice/fingerprint recognition. You will have to provide a voice sample or your fingerprints to confirm your identity. Once this has been confirmed, only then would you be allowed access to a website or application.
What is 2-Factor Authentication then? Ultimately, it is a strong barrier between scammers and your personal information, allowing you to protect your business information and finances from sophisticated cyber scammers. It is one of the best ways your business can make itself more secure.
What is 2-Factor authentication’s biggest risk?
One of the many questions business owner’s ask is ‘what is 2-Factor authentication’s risk?’ While 2-Factor authentication can be really good at keeping valuable information and data secure, many businesses opt for multi-factor authentication. Multi-Factor Authentication uses more than one method to verify an internet user.
Some businesses need high level security, such as health care facilities, banks, and governmental agencies and they often go for MFA. In this regard, 2-Factor authentication’s biggest risk is not being as secure as MFA.
However, many businesses still use 2 Factor authentication, as for what 2 Factor authentication is, it still works very well.
What is 2-Factor authentication’s best advantage?
Businesses use 2 factor authentication to protect their files and identities, and it often works very well. It can prevent a lot of cybercriminals from stealing your company’s files and using them for their own means, whether this is to gain financial payment for the safe exchange back into your hands, selling the data elsewhere or other, more malicious, means.
There are endless advantages to 2-Factor Authentication. One of the best advantages is that the process is really manageable and user-friendly. This will make the transition easier for your employees. It is very convenient as technology has really advanced in recent years.
Passcode generators are much more secure than traditional passwords. No two passwords are the same, which makes them much more difficult to hack into.
What is 2 Factor Authentication implementation like?
Many business owners worry about what 2 Factor Authentication is like to implement. The implementation process can be very simple and quick, and can bring a lot of benefits to your business. Here are some tips to make sure that the implementation of this method into your business goes well.
Firstly, consider using the most common type of 2 Factor Authentication, which is SMS authentication. It’s convenient and accessible, and ensures all employees are verified by a reliable phone number.
Because it uses a smartphone or other electronic device, most employees will already have this on their person. This makes it a much quicker and more efficient way of protecting your files.
Make sure you do your research to find the best 2 Factor Authentication provider for your business. Each company has their own way of implementation.
We hope that this has answered your questions as to what 2 Factor Authentication is, and has given you a better understanding of 2 Factor Authentication overall, as well as what 2 factor authentication is like to incorporate into your business. Knowing what 2-factor authentication is like in terms of risk and reward is good, too. It is important that you are aware of how to better protect your company against cyber threats and scammers. For more information on how to implement 2 Factor Authentication for your business, or to discuss further cyber security methods, please get in touch with CYFOR Secure today.