Is Passwordless Authentication Secure for Your Business?

46% of Australians use weak passwords, according to Telstra. Nearly 1.4 million people use the same password across 10 or more devices. This puts their cyber security at risk. If a hacker gets hold of your password, you are ultimately giving away all your access. The threat is even bigger for business organisations. The difficulty of remembering long passwords is the primary reason for such behaviour. Passwordless authentication can save you from this problem. It also protects you from phishing and strengthens your security. 

What Is Passwordless Authentication?

Passwordless authentication is a modern security method. You don’t have to input passwords to access a system. Instead, you can use more secure and convenient ways to verify users. It can be biometric authentication, OTP, TOTP, magic links, etc. 

This is an effective method to improve your cybersecurity measures. Since there is no password, hackers cannot guess, hack, or phish them. It protects your data and strengthens network security. Various authentication protocols support these methods, such as:

• FIDO2
• WebAuthn
• OAuth
• OpenID Connect
• SAML, etc. 

How Secure Are Passwordless Logins?

Passwordless authentication is actually more secure than password log in. This might seem unlikely, but it’s a fact. It improves your network security in a number of ways. No passwords mean there will be no passwords to steal. This makes your network safe from phishing and data breaches. 

Phishing is one of the biggest threats to cyber security. According to the Australian Bureau of Statistics, It’s the second most successful cyber attack for personal fraud. It has a 0.6% success rate. Phishing scams intend to gain login credentials from you. Passwords are their primary weapon to steal data. When you get rid of passwords, they have nothing to phish about. By protecting individual employees, you confirm the network security of your entire network. 

Benefits of Passwordless Login

Passwordless verification provides more than only security. It improves user experience, reduces pressure on the support team, and is also cost-effective. 

Improves User Experience

Passwordless login enhances user experience. It eliminates the need to remember complex passwords and simplifies user identity verification. Your users can log in quickly using biometrics, security tokens, or magic links. This ease of access reduces frustration and impresses the audience. 

No More Forgetting Passwords

Forgetting passwords is a common problem for internet users. Office employees often forget their passwords, and it takes time to retain them. To avoid this, they opt for using easier passwords. This makes them vulnerable to cyber-attacks. Using no-password methods eliminates this problem. Users don’t have to remember a complex password. It will make login easier and more convenient for them. 

Less Pressure on Support Teams

If an employee forgets his password, they need to reach out to the support team. They have to deal with such problems more often. If you switch to passwordless login methods, it will erase the forgetting problem. There will be no more password fixation for the support team to deal with. With no password method, your support team will have more time to focus on the more important tasks.  

Budget-Friendly Security System

Password-based security is usually more expensive. Incorporating a passwordless method reduces costs associated with password management. Methods like biometrics, magic links, etc., utilise existing hardware or software. You won’t need to make additional investments. 

Secures Your Business

Cyber attacks can harm your business gravely. The National Cybersecurity Alliance says that about 60% of businesses fail to recover from a cyber attack. They shut down within the first six months of the attack. A passwordless authentication system improves security for your business. You will be safe from different cyber attacks. 

Types of No-Password Login

You have different options to choose from when implementing passwordless authentication. Have a look at the discussion below. 

One-Time Password 

OTP is a widely popular security method. It is often used for two-factor authentication.  In this method, you will be provided with a security code for your email or phone number. You need to use that code to log in. The code cannot be used for a second time. So, if anyone gets hold of the code, you have nothing to worry about. Its benefits include the following:

• Unique for each login attempt, expires after a single use.
• Reduces the risk of unauthorised access as it’s valid only for a short duration.

Time-Based One-Time Password

Time-based passwords are much different from the traditional password method. You do not get to choose the password here. Instead, an algorithm updates the password after a preset time. Everyone inside the network gets informed about it. Since the password keeps changing, hackers won’t benefit from phishing. Some modern devices can generate codes even without an internet connection. It’s easy to set up and use. Your data will be much more secure under this login process. 

Biometric authentication

This method uses physical characteristics for verification. It includes fingerprints, facial features, or iris patterns. It replaces traditional password-based authentication with a more secure and convenient method. This is widely used for numerous benefits, such as:

• It ensures enhanced security. Biometric data is highly difficult to replicate or steal. 
• You don’t have to remember passwords anymore. 
• Biometric devices can also record signing and signout times. This helps business organisations keep track of discipline. 
• It takes a very short time to verify a user. 
• Minimises the risk of unauthorised access or identity theft.

Magic Links

Magic Links offers businesses a passwordless login solution. It simplifies the authentication process for users. When a user tries to access a website or resource, he or she is sent a link. This is sent by either email or phone text. Unauthorised emails are not allowed to get those links. And people who are outsiders won’t be able to get the link. This way, it protects your business from being intruded. 

Smart Card

A smart card is a pocket-sized card with embedded integrated circuits. It securely stores data and performs cryptographic functions. You need to insert the card into a reader to gain access to systems or facilities. These physical cards are easy and convenient to carry around. 

But what if you lose the card? This can happen. You need to inform the support team as soon as possible. They will remove access to the card from the system. So, no one will be able to use that to access. 

Final Thought

Passwordless authentication is secure beyond question. You can use them for primary or multi-factor authentication. It’s an effective step for credential theft prevention. You will need the support of an expert IT team for the installation and maintenance of the system. ItTechbox provides passwordless authentication security as well as managed IT services in Brisbane. Our support team is always available to help with any troubleshooting. We ensure your system is secure, updated, and properly configured.