Smartphone manufacturers like Apple and Samsung have already laid the technological foundations needed for passwordless authentication .
Enterprise security ’ s weakest link
Passwords are often an organisation ’ s weakest link . Given the costly implications associated with account takeover , which has skyrocketed by 307 % in recent years , and the colossal deficit of trust they cause , the stakes have never been higher .
The volume of digital identities per person globally has risen exponentially in recent years . The average American now has over 150 online accounts according to some estimates .
Each of these accounts is a different vector for attack and with cybercriminals able to access increasingly sophisticated malicious cyber tools , threat actors are almost spoilt for choice when it comes to identity theft .
Through phishing , password spraying or brute-force attacks , cybercriminals can access vast amounts of information through a single account , leading to further breaches .
Businesses have rightly started to move beyond the point of passwordonly security , embracing authentication methods like MFA ( which comes with its own benefits and drawbacks ), but at the end of the day , modern cybersecurity can feel like a numbers game for the unprepared – and the odds are stacked in the cybercriminal ’ s favour .
Forget about forgetting passwords in 2023
Luckily , a passwordless future may not be as far away as it sounds . In fact , the technological infrastructure and standards framework already exists .
Smartphone manufacturers like Apple and Samsung have already laid the technological foundations needed for passwordless authentication for the last decade , while also facilitating a huge shift in behaviour and consumer preferences towards passwordless authentication .
Now , this access technology is moving into other forms of authentication , like software-based biometrics . Because software-biometrics doesn ’ t rely on special sensors , but rather the high-quality cameras in mobile devices , it allows for cross-platform use so that users can carry their authentication method across multiple accounts and applications .
Another important driver of passwordless authentication has been the Fast IDentity Online Alliance ( FIDO ). With the help of its community of identity , security and biometrics experts , the FIDO Alliance has developed and promoted free , open standards that have taken passwordless authentication to the next level .
On World Password Day ( May 5 ), Apple , Google and Microsoft jointly announced that they were building in support for passwordless sign-in , leveraging FIDO2 , across all of the desktop , browser and mobile platforms that they control . Crucially , they have all emphasised cross-platform functionality will be a high priority in the development of FIDO2- based passwordless features .
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