Why your company needs two-factor authentication

According to a study by Verizon, 81% of information leaks on the Internet are due to the low complexity of passwords. Two-factor authentication is the perfect tool to protect your account when your login details are compromised.

Hackers, phishing sites, and malware have learned how to bypass security checks. At the same time, the protection of confidential information of the company and the personal data of its customers remains one of the highest priorities for the business. 

What is two-factor authentication

Two-factor authentication is the process of verifying a user's identity using the pieces of information required to gain access to an account. Two-factor authentication (2FA) is referred to as a multi-factor data protection method since it uses two channels to identify the account holder. 

Two-factor authentication currently consists of the following steps: 

1. Login with username and password.
2. Identity verification through the use of a security code. 

When logging into an account, the provider sends an SMS to the user's phone with a one-time verification code that must be entered to log into the account. Usually, the second identifier is valid for several minutes. 

In this way, two-factor authentication minimizes the risk of a customer account being compromised. If an attacker gets hold of the user's password, he will not log into the account without access to his smartphone.

Why set up 2FA for business?

Hackers don't care how big or small a business is, and compromising the security of user data can cost a brand reputation and a lot of money. According to statistics, 60% of small businesses go out of business after the first cyber attack. To protect themselves and their customers, companies are implementing two-factor authentication.

The use of two-factor authenticationis: 

• increasing the productivity and flexibility of the company's work;
• improving the user experience;
• security enhancement up to 99.9%;
• increasing customer confidence;
• reducing security management costs. 

Do you feel vulnerable to cyber scammers? Protect your company's data and systems with two-factor authentication. 

Decision Telecom is a reliable business partner in solving information security problems. Use popular and affordable SMS channels to implement 2FA text messages. 

Integrate our Verify API to improve the security of web login, application usage, transactions, online payments, and more.