Passwordless protection
For decades passwords have been the primary form of digital authentication for individuals and enterprises. But, with the evolving threat landscape and the increasing amount of data stored online, the traditional password and username no longer offers an adequate level of security.
As a result, we continue to see large-scale breaches; from Optus in 2022 to the attack on Latitude Financial last month, which was one of the largest in Australian history. If enterprises continue to rely on outdated methods of customer protection, we can expect this trend to continue — only with increasing scale and magnitude as attackers grow in sophistication. The reality is that security is the responsibility of every person, but business leaders have a greater responsibility to protect users, especially when it comes to personal and private data.
Despite changing attitudes towards security, notably demonstrated in the crackdown on social media platforms across governments, there is still a need for organisations to invest in stronger protections. Passwordless authentication is an inevitable reality, but knowing how and where to implement these solutions into existing tech stacks without user disruption is crucial.
Reducing frustration for users
Passwords have long been a source of frustration. As more services and businesses have embraced the digital world, being able to access work files or log into digital services has become a battle of wills — user vs the “forget password”.
While passwords were intended to add extra layers of security, the burden of forgotten, weak and outdated passwords is a source of friction and frustration. For businesses, this has resulted in decreased productivity, lost opportunities and frustrated customers.
Despite the difficulties and inconveniences, businesses still need a solution to protect users and workers online. The solution lies in passwordless authentication. Putting human-centric design at the heart of cybersecurity, passwordless solutions rely on a combination of one or multiple methods to secure accounts.
For example, one of the most common forms of authentication is biometrics, which relies on using physical data — fingerprints or facial recognition — to enable unique user logins. Other solutions such as magic links, authenticator applications and encrypted tokens can be implemented together to create multi-factor authentication and implement a unique (and frictionless) security experience.
Adding barriers between bad actors and users
Beyond reducing friction, passwordless solutions dramatically increase the level of security for user data. In 2021, two billion records containing usernames and passwords were compromised globally, and all it takes is one overused, weak or forgotten password for a malicious actor to gain entry and seriously compromise IT systems.
Proactive defence MFA solutions protect vulnerable enterprise resources, such as servers, workstations, remote desktops and VPNs. By reducing the attack surface, leaders can help to remove employee interactions with passwords and reduce the risk of compromise.
The solution lies in putting users at the centre of their data. Organisations that implement passwordless, user-friendly solutions are putting a strengthened barrier between users and bad actors, reducing the possibility of common types of attacks, including brute-force attacks.
While this might seem like a big leap for users, the reality is that identity access management (IAM) solutions can seamlessly integrate into your business. As more businesses embrace digital transformation, hybrid workforces and online services, ICT leaders must become more serious about security. With high-profile breaches continuing to make headlines, there is a strong case for the importance of implementing stricter standards of security, giving leaders an opportunity to build stronger cybersecurity protections and, once and for all, get rid of the password.
