Password Breaches Increase Mobile Authentication Interest
SMS-based, two-factor authentication combined with one-time passwords is no longer limited to the financial services industry, according to a new study conducted by the Ponemon Institute. Interest is rapidly rising, driven by a string of password data breaches that illustrate why a password alone is becoming ill advised. People use weak passwords and often the same password for multiple services. The Ponemon study, commissioned by Germany-based global mobile and SMS service provider Tyntec, surveyed more than 1,800 IT and IT security professionals worldwide. It found businesses extending the use of two-factor authentication for user registration or activation of online services. However, it must be implemented correctly or businesses risk eroding customer satisfaction and increasing customer support costs, the study found.
Here's a look at the study's key findings.