Passwordless Authentication: A New Security Level for Business
InBase has published insights on the benefits of passwordless authentication and its role in enhancing cybersecurity.
InBase has released a report addressing current cybersecurity challenges and the advantages of passwordless authentication. In today’s digital landscape, traditional passwords remain one of the weakest links in protecting corporate systems. According to the report, up to 70% of cyberattacks target account compromise, and phishing attacks successfully bypass multi-factor authentication in 62% of cases.
Passwordless authentication, based on the global FIDO (Fast IDentity Online) standard, offers a solution to these issues. This technology utilizes public-key cryptography, allowing users to access systems via biometric sensors on their devices or hardware security keys. This approach significantly enhances protection against unauthorized access and improves user experience by eliminating the need to remember complex passwords.
Passwordless authentication is particularly valuable for the corporate sector. It simplifies the organization of a centralized, secure system, even when dealing with numerous legacy systems and diverse authentication methods. An example of successful integration is the corporate document management system Megapolis.DocNet, which, through a partnership with Hideez, now supports passwordless login using Passkeys, the Hideez Authenticator mobile app, and FIDO-certified hardware security keys.
Why is this beneficial for Ukrainian businesses?
- Enhanced Cyber Resilience: Amidst growing cyber threats, especially relevant for Ukraine, passwordless authentication offers more robust protection against phishing and account compromise.
- Optimized Operations and Convenience: Eliminating password-related issues (forgotten, complex, frequent changes) simplifies employee access, boosting productivity and reducing the burden on IT support.
- Compliance with Modern Security Standards: Implementing FIDO technologies demonstrates a company’s commitment to adopting advanced solutions, which is crucial for international cooperation and partner trust.
Source: InBase
Source: InBase