For years, the idea of going passwordless seemed like a pipe dream. Although it was clear that passwords were ineffective and full of friction, most companies felt there was no alternative. Fortunately, that’s no longer the case. Advances in technology and new regulations have pushed the move towards passwordless technology to a critical tipping point.
So, what’s wrong with passwords?
Passwords are not secure because users across websites frequently reuse them. They’re also inefficient because customers frequently forget them. This leads to increased customer support costs and negative perceptions of the company.
For too long, authentication and cybersecurity practices have been seen as separate from the security perspective. However, this is a critical mistake because customers don’t see it that way. A company’s brand value is inexorably linked to how customers authenticate themselves. Nowadays, intelligent digital authentication gives you a competitive edge.
What if passwords are ineffective?
Well, there are three ways to authenticate yourself: by what you know, what you have, and what you are (biometrics). The password has traditionally satisfied the “what you know” criterion, an OTP received through SMS satisfies the “what you have” criterion, and face scans and other biometrics satisfy the “what you are” criterion. At least two of those three key categories must be included in your flow to exploit multifactor authentication.
Because it offers many methods of authentication, the modern smartphone is becoming the replacement for the password. For instance, the “what you have” criterion could be satisfied by sending an SMS OTP to the phone, and the “what you are” requirement may be satisfied by using a facial scan on the phone. The phone’s effectiveness as a password substitute is also facilitated by the phone’s prevalence in modern-day life. Most people who use smartphones check their phones an average of 96 times daily.
The ability of the mobile phone to use the SIM Card to communicate with the mobile network is a significant advantage. Most people are unaware of how advanced the SIM card’s encryption technology actually is. The SIM card is still extremely secure. There are very few better solutions due to the widespread use of mobile phones and the high level of security built into SIM cards.
What is the process behind password-free technology?
You want to set up the passwordless credentials as soon as the user logs in possible. After that, you can continue to authenticate without using a password. But what happens if you get a new phone? You require a successful account recovery procedure.
Many companies have been considering going passwordless for years, and that time is finally approaching a tipping point where it can be made possible. If you do not currently have a form of second-factor authentication, the first step you should take is to get one as soon as possible. This is an essential first step towards going passwordless.
In conclusion, going passwordless is no longer a pipe dream. Advances in technology and new regulations have pushed the move towards passwordless technology to a critical tipping point. By going passwordless, companies can save money by reducing customer support costs, preventing fraud, and improving user experience. The mobile phone is increasingly being used as a replacement for passwords because it can fulfil multiple means of authentication and is always within arm’s reach for most people. A good roadmap for going passwordless includes implementing a form of second-factor authentication, establishing passwordless credentials quickly, and having an efficient account recovery process in place.
In summary, passwordless technology has been a long-time coming, but it is finally here. The mobile phone is the most secure and user-friendly way to replace passwords. With the ubiquity of mobile phones and the sophisticated technology of SIM cards, it’s the perfect solution for companies looking to improve security and user experience. By following a clear roadmap, companies can make the transition to passwordless technology smoothly and efficiently.
It’s time to say goodbye to the hassle of passwords and welcome the future of authentication.