How Two Factor Authentication Solutions Enhances Security

Security of data and information has become a much debated topic. There are many organizations who are worried about the security of their data storage and management system. However, they have put the advanced security measures in place. But many of their features such as static user-names and passwords, have become weaker and their are tools available using which they can be easily surpassed. Apart from that, many experts even believe that they are not strong enough to protect the system against malware, phishing and other fraud attacks. It is due to such reasons there is a urgent need of the better equipped and advanced security solutions.

There are many disadvantages of using systems which have static user-names and passwords. The most prominent is that the users easily forget their user-names and passwords. Apart from that, they write it down in some page and then loose or throw it away. This is the reason, it is believed such security systems pose a serious risk or threat. To control it, leading organizations are pushing the research and development agencies to come up with some solution using which the present remote accessing of sensitive information can be made more risk free.

Two factor authentication solutions is a recently introduced security solution, which is being used by many agencies and organizations to counter the growing number of fraud attacks. In this method, identity of the user is authenticated on two different levels. In first level the user has to enter their user-name and password. Once they get through this security wall, a one-time password or key is sent to their mail id or mobile phone. It is only after entering this temporary key, the user can get complete access of their accounts and storage system.

In current times two factor based authentication system is the most preferred security solution measures. The most vital aspect of this security solution is that there is no way, it can be surpassed or broken. Apart from that, the leading research institutes have invested a significant amount on Cloud authentication, which when activated can boost the performance of this security solution.

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Leading Central Banks Advocates the Use of Two Factor Authentication Model

Once upon a time, financial dealing with bank used to be complex, complicated and irksome. Customers have to travel all the way to the bank and wait in the queue to deposit and withdraw money. However things things have changed now and thanks to digital revolution banking has become comparatively much easier. Now there is no need of visiting bank to transfer or deposit money. Apart from that, presence of significant number of ATM has also made money withdrawal much easier and comfortable.

Every bank now offers online banking facility to their customers. There are many advantages and benefits of this facility. The prominent of them is that it has made money transfer, utilities payment and host of other functions easier and comfortable.

It is believed that these internet based banking services will very soon gain universal acceptance in banking sector. With the growing use of Smart-Phones, there will further growth in the number of customers who will eventually switch to web based banking solutions. This will intensify the number of online transactions and a significant amount of business will take place on internet.

Growing use of technology has made banking comfortable for customers. However, it has exposed the same customers and their hard earned money to tech-savvy hackers who have the potential to break into sophisticated data systems. These hackers have the required spy-ware, using which they can track any online transactions, follow it, collect the required information and get the money in the account divert to their accounts.

There is no doubt, that doing online transaction of money is quite a risky affair. However, almost all the banking institutions are taking many steps to improve the security of their possessed information. They have started this strengthening program by applying Two factor authentication mobile internet security system.

The prime advantage of this system is that it strengthens the banking based web applications. With the help of this system, users do not have to remain careful with their online transfer. Although, one should be more careful with their passwords. According to the experts, stronger passwords must be used and it should be changed regularly.

SMS 2 Factor Authentication Essential for Electronic Identity Verification

Unlike earlier days, contemporary business is very much dependent on the use of computers, mobile phones and other technological advancements. Gone are the days when businesses assemble details of the clients and customers in a paper file or a folder. Today, all information associated to your customers and employees can be stored in your computers. Besides, storing business files, sending emails and performing online banking activities is also made easy with the growing usage of computers and the Internet. Now, if any one misuses or takes advantage of all the details of your client and employees from your computer then the consequences would be devastating. The unauthorized access of data can lead to your customers losing trust in your company. 2 factor authentication is a most preferred method to do away with phishing, malware and online fraud.

As more and more businesses today rely on mobile phones for out-of-band authentication, SMS 2 factor authentication solution is also used for the users who prefer texting. Under the process, a text message is sent to the user’s registered phone number. In order to authenticate, the user replies to the text message.

There are some key features of SMS 2 factor authentication are:

  • A complete out-of-band SMS authentication
  • PIN Security and real-time alerts
  • Custom messages
  • Transaction verification
  • Robust authentication platform
  • Flexible and scalable program

The secure 2 factor authentication service is highly reliable and developed to protect your clients and internet security threats. It just not protects your clients but provide a level of security within your company. Many big names in the corporate and financial world like Microsoft, Google and Bank of America have implemented two factor authentication into their businesses. A dependable 2 factor authentication service can help in stockpile information like employees and clients’ records, customer lists, personal records, social security numbers, criminal records, financial records, credit card details, etc.

Two Factor Authentication – A Smart Security Option to Protect Personal Information

If some one asks about the most useful tool people today use to communicate, find information and buy goods and services, then there would be only one answer – Internet. Going with the stats, daily more and more people are gaining access to the Internet. This escalating popularity and usability of the Internet is also augmenting internet security concerns. As per studies, not only elderly generation is responsible of the increasing user base but the children usage of social media sites is also increasing heavily. This is growing number of online user base, strengthening online security measures is vital. Generally, all internet sites use strong passwords and username to protect the information of their company and their clients. But along with the technological advancements, static logins and passwords are at risks and are prone to unlocked by hackers. So, online security measures need to be strong enough to combat with hackers, fraud and identity theft.

Two factor authentication is a best way to improve online security and protect users. This is a very cost-effective method to implement. In the process, identification of a user is based on two or more of the three types of factors. The first factor is to check something the user knows, the second factor is something the user has and the third factor being something the user is. The two factor authentication is one of the very effective methods available today.

In endeavors to make all possible efforts to protect company’s data, many securities companies use electronic devices to help users to safeguard confidential data. That is the reason that many mobile devices are connected to online banking. For the same reason, two factor authentication mobile is widely used today because threats to online security are increasing day by day and these types of threats are often difficult to detect. Methods like two factor authentication are very reliable because there are possibilities that key loggers cab retrieve one factor of authentication, but they would not be able to retrieve the second factor of authentication for the reason that the dynamic one-time password sent through a mobile phone.