There are 300 percent more cyber attacks in financial services than any other industry. 300 percent! And it’s no wonder, really. With potentially sky-high rewards if they hit the jackpot of infiltrating banking networks, it’s no wonder hack after hack is aimed at financial services organizations.
The last time a hardware token was cutting edge technology, you had a mobile phone the size of a shoebox.
You could rock out at a "Europe" concert listening to their super hit “Final Countdown” (which, by the way, might have been a hidden message about hardware tokens) while having peace of mind by knowing your data was being protected by the latest security the ‘80s had to offer.
Just because it’s 2015 doesn’t automatically mean that a technology is obsolete, right? If you believe that, I have a fax machine I’d like to sell you.
It is widely accepted nowadays that a company’s people are its most important asset. It follows, then, that how productive those people are has a significant impact on the business’s ability to execute on day-to-day operations and achieve short- and long-term goals.
Multi-factor authentication is most often thought of in terms of organizational security, and rightly so. Concerns about cyber threats are the reason companies adopt an authentication strategy. But have you ever considered the effect such a strategy can have on employee productivity?
Hardware tokens were once the gold standard in user authentication, but they have met with resistance all along. Many IT admins have reported that their users never really adopted the hard tokens. They are cumbersome to use and, being physical objects, employees have to carry around something extra. This approach is bound to fail, as employees will forget their hardware token from time to time or misplace it and need to have a new one sent to them. Excuses like “My dog ate my hardware token” might be funny at first, but the avalanche of calls to your IT department from frustrated employees who cannot log in will quickly become a pain for both IT and the other employees.
Trends such as BYOD and the widespread use of cloud services have expanded the threat landscape and put a strain on IT security. For instance, Gartner predicts that by 2016, eight percent of companies expect to stop providing devices to workers, and more than 30 percent of BYOD strategies will leverage personal applications, data and social connections for enterprise purposes.
Navigating the market for multi-factor authentication in search of the right solution can be tricky. This is especially true for companies looking to implement multi-factor authentication for the first time, but also for companies that already have a solution in place but are thinking about migrating to a more secure and convenient solution. At some point in your search you will likely encounter them: the hardware tokens. These first-generation two-factor authentication solutions come in many shapes and colors, but they all have four things in common: