Passwords are knowledge-based authentication credentials that require users to create and memorize complex combinations of letters, numbers, and symbols. For decades, people have been using passwords to authenticate into their accounts and secure their devices.
Aside from creating a complex password, many digital platforms also require users to change their passwords frequently and recommend not reusing these across multiple systems. However, people’s desire to sign on to digital tools quickly leads them to use the same passwords repeatedly, which is among the leading causes of security breaches.
Because of cybersecurity risks resulting from weak authentication practices and the reuse of passwords, various enterprises are replacing passwords with other authentication credentials that provide an efficient and more secure means of authentication.
Organizations can reduce security risks by implementing robust authentication solutions that adhere to modern security standards like FIDO 2.0 standards.
The FIDO (Fast Identity Online) Alliance is an open industry association that aims to strengthen authentication standards, enabling organizations to reduce reliance on passwords, replace them with more robust login credentials, and improve convenience for a seamless user experience.
FIDO has created open standards for passwordless authentication, such as Universal Authentication Framework (UAF) and Universal Second Factor (U2F) protocols that serve as the standard for passwordless login and multi-factor authentication (MFA). But its most prevalent standard is FIDO 2.0, which leverages mobile devices for simpler, more robust, and more convenient login.
FIDO2 authentication credentials are unique and less susceptible to theft. These cryptographic on-device credentials often cannot be unlocked without a second factor or device-based authentication, such as a PIN code, a swipe pattern set by the user, or biometric authentication by using the device’s built-in fingerprint reader or camera.
Aside from enhanced security, FIDO 2.0-compliant login credentials also provide other benefits to enterprises such as reduced costs with fewer password resets, increased productivity in operations, and better user experiences that drive higher loyalty and revenue. This infographic from Ipsidy details how passwordless authentication or login can benefit enterprises.