What is 2-Factor Authentication?

Two-Factor Authentication or most commonly referred to as 2FA is a popular security approach used globally to protect data and accounts from hackers. As the name suggests, 2FA requires two steps to verify the user identity and allow access to any secure device, network, or system. In simple words, it’s just like having two keys to unlock a door.

How is Two-Factor Authentication (2FA) different from Traditional Login?

As compared to single-factor authentication which requires just the User ID and Password to login an account, 2FA requires an additional piece of information without which the user is not granted access. So, what could this ‘additional information’ be?

This could be any of the following 3 factors:

1. Information only you know: This could be a PIN or an answer to a private security question.

1. Information available on a device that you own: A temporary password sent to your private mobile phone via text message or SMS.

1. Information that is exclusive to you only: This could include your unique biometric data.

A Closer Look at Two-Factor Authentication (2FA)

In today’s world, each person has multiple accounts and various IDs and passwords for different uses. For instance, if you are a student or minor, you probably own your academic institution’s ERP account, different email accounts, various social media accounts, your Apple ID, Google ID, Netflix Subscription account and so many others that contain your personal information and academic history. However, if you are a working individual, business person, parent, government representative etc, then you might have access to more critical data. This is found in your online banking account, business email account, insurance account, company account and a plethora of other secure facilities. But have you ever wondered if these accounts are actually safe from cyber predators? Let’s Find out!

Why is Two-Factor Authentication (2FA) Important?

●      Hacking anyone’s user account is an easy feat for even the mediocre cybercriminals of today. With advanced technology at hand, hackers can easily test billions of login passwords so quickly that every 9 out of 10 pins could be exposed! Two-factor authentication is a solution against such information breaches as it adds an extra layer of security to your account.

●      2FA is now commonly being used by most Tech Giants such as Google, Facebook, Twitter, Apple, Hotmail, Dropbox, Paypal, Slack, Salesforce etc to improve their security standards. Following their footprints, 2FA could be used by any small or mid-sized company which wishes to protect its corporate information such as

●      Employee Records

●      Business Data

●      Customer Information

●      Financial Data

●      Accounts Information etc.

●      While hackers love to attack financial accounts of individuals, they also like to target company applications and software for larger goals. This is because organizations carry customer records and other critical data that is sometimes worth millions of dollars as ransom. This is the reason why banks and many utility companies have been using 2FA for years now.

How does Two-Factor Authentication (2FA) work?

Two-factor authentication works in two easy steps:

Step1: User enters the correct User ID and password to access a secure account.

Step2: User identity is verified a second time by another means. This could be,

 - An OTP (One-Time-Password) sent to the user’s mobile phone.

 - A temporary verification link, a personal identification number (PIN)  emailed or SMS to the user.

 - A voice recognition sample asked from the user.

 - A Biometric print (fingerprint scan, retina scan, facial recognition) asked from the user.

- An answer to a unique security question configured by the user himself/herself.

Is Two-Factor Authentication (2FA) Beneficial for Businesses?

2FA’s popularity is noteworthy. Surprisingly, even the teenager using the Xbox gaming console is using the same level 2FA for user verification as any other giant tech organization to login to their account. So why does Microsoft want a simple entertainment device account to be extra secure? The answer lies in the fact that 2FA has various advantages. Here are some,

Customers Prefer Secure Accounts

Any company which offers better security procedures is more likely to gain customer trust over other competitors. This means more business and larger customer base.

2FA works well with Remote Connections

During the pandemic and ongoing lockdown, most businesses have allowed remote work opportunities. Consequently, access to secure accounts/systems/ networks via remote locations have become riskier. However, if your staff is using 2FA for authorized access, then the risk is considerably reduced for both in-office and remotely working workforce.

2FA gives a Hard Time to Hackers

Since two-factor authentication is difficult to crack by cybercriminals, your login security becomes stronger. Hence, any attacker trying to open the door to secure data is locked out by two simple steps of 2FA. While your staff passwords could be weak, easy-to-guess, easy-to-pry or even easy-to-steal, 2FA would keep the company account secure.

2FA Adds Extra Protection to Financial and Business Data

While a hacker can certainly guess your employees’ User ID and Password from various means, it is impossible that he/she may have access to their cell phone or your biometric print. This makes it much safer for your company to protect their financial and business accounts from unauthorized access if they have 2FA security in them.

2FA is Convenient for Small Businesses

Cyber Attackers can target small businesses easily despite the typical security protocols in place. The cost to recover from even a minor hacking event could be devastating for a small corporation with its limited resources and workforce. Having an effective 2FA system in place can be a life-saver for such businesses from future data breaches and resulting economic loss. 

How to Implement Two-Factor Authentication (2FA) in your Business?

To set-up 2FA for your business, you must answer 3 simple questions. These are:

1.   Which accounts need to be included?

By accounts it means the company applications such as business email accounts, accounts software, messaging apps, database access and cloud storage accounts.

2.   What will be the system requirements required to set up 2FA?

2FA solutions require certain software and hardware to be in place depending on the type of verification method you will be using. This could include the latest operating system, any third-party device, a particular web browser, a specific app or any other infrastructure.

3.   Which authentication methods will work best for your company?

Authentication factors for 2FA should be decided keeping in mind staff’s ease and understanding level. If the verification method is too complicated to grasp, the employees might not even use it in the end!

Once you have considered and brainstormed the above factors, then only will you be able to implement a strong 2FA system in place. For many organizations, their IT support team might work it all, but for others, outsourcing the task to a proper IT services team is the best go-to solution. In this way, they will be able to safeguard their devices, applications and users without any hassle while staying focused on other important company operations.

Experience 2FA now with Acropolis Technology Group

Whether you are a business of any size and belonging to any field, two-factor authentication is a baseline security measure that can protect your business from cybercrime. We at the Acropolis Technology Group can answer any queries or confusions you have regarding Two-factor authentication (2FA) as well as guide you every step of the way. From free counselling sessions to affordable 2FA services, we cover it all!

At Acropolis, we have 2FA solutions to protect your Microsoft Accounts and other corporate assets regardless of where your employees work from and where you keep your data. Contact Us today to learn more!