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Survey: SMS Two-Factor Authentication Quickly Gaining Adoption

Use of one-time passwords is no longer limited to protecting high-value transactions in the financial services industry, according to a new study. Businesses are increasingly using OTPs with SMS-based, two-factor authentication to verify every user login, according to a survey of more than 1,800 IT and IT security professionals globally.

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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.

 
 
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