The assumption when using a password is that only the legitimate account or device owner knows it. Therefore, it has been the most widely used form of authentication for many years.
As the number of password-related data breaches increases over time, it has been proven that passwords are no longer sufficient to protect online accounts and devices in the modern world. Criminals use various methods to obtain someone else’s login credentials.
When accounts get compromised, users are prompted to change their passwords. This procedure often relies on knowledge-based authentication, such as security questions. However, it is often too tedious and inconvenient, especially when the person forgets their answers. If companies fail to provide a seamless customer experience, they might lose their clientele to more updated competitors.
According to the World Economic Forum, most experts agree that passwordless login is the future of digital technology. Institutions must shore up their cybersecurity by implementing modern solutions compliant with FIDO2 authentication standards.
Consequently, multi-factor authentication (MFA) that uses a strong combination of authentication credentials like possession factors (something you own like cryptographic keys bound to device) and inherence factors (something you are like biometrics) has emerged as an ideal password replacement.
Device-based authentication enables institutions to register their customers’ known devices to their accounts as the second defense layer in robust MFA. It can be incorporated with a mobile facial biometric identity verification technology that matches the owner’s facial image to a government-issued identity document during account and device enrollment.
Besides reducing fraudulent attempts, FIDO2-compliant login credentials also meet customer demand for convenient and faster services. They can create a new account and access it without needing to remember complex passwords and answers to security questions.
Ensuring security while providing superior customer experience has become a top priority among organizations. To know more about the role of passwordless login among enterprises, an infographic from Ipsidy is provided below.
