Improve Security With 2 Factor Authentication
Most corporates today have expressed a need for greater security solutions in order to protect themselves from cyber crimes, online fraud and theft. These security solutions also ensure greater business sustainability and profitability as consumers today are using the power of the internet to do almost all activities. Be it banking or shopping, almost everything is done online. As vital personal information is disclosed at these sites it becomes imperative that they are secure. Companies today know that the one with maximum security will garner maximum profit.
Typically, a single user name and password are entered to gain access to particular information. This system is called the authentication system which verifies the identity of the person accessing this piece of information. However, there are times when access is required to a piece of information that is secure. Under such situations a two factor authentication system works better.
A two factor authentication system is a process in which two sets of information are simultaneously required to gain access and authenticate the identity of the user. This system ensures a higher level of user authentication in comparison to a single password application.
A two factor authentication system works on the principle of a password which is verified during signing in or logging on which is followed by a hardware such as a token or a smart card or involves personal identification taken by means of a fingerprint or eye scan. Therefore, instead of relying only on information that a person knows such as a login id, password, and personal information, 2 factor identification makes access even more secure with the added information requirement which is something that a person either has or is.
There are several types of two factor authentications. They can be in the form of Biometrics, Magnetic cards, Phones, One time passwords, digital certificates, mobile signatures etc. Of these the most popular have been smart cards, magnetic cards, tokens and one time passwords.
Biometrics has been in use for a very long time to ensure identity authentication. Fingerprinting, iris scan and voice scan falls in this category and is then followed up with a PIN or password that when authenticated allows access to secure information. Magnetic cards such as ATM Cards, credit cards, debit cards etc are another example of two factor authentication where the card is something that you "have" and the PIN is the second factor that allows the cards operation. Much like biometrics the magnetic strip on these cards is their own individual fingerprint that allows access to secure information.
One time passwords have also become extremely popular as two factor authentication systems. Here, a user has to create a log in and a password at the time of registering and provide personal information such as the phone number etc. During the time of the second log in, the user has to choose the phone number to which a second password is sent via SMS. The user then has to enter this second password for authentication and logging in.
Similarly, a number of companies provide a security token which gives a password that needs to be entered during the time of logging in. This is a timed device which displays the password for a period of 30 to 60 seconds at the log in time. Once both the individual password and the token password are entered and authenticated the individual is given access.
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