The digital revolution has brought forth many technological advancements. For the past years, technology has continuously evolved, allowing people to live a more convenient life. The world’s present situation has also pushed the utilization of technology even further. Many industries are currently heavily reliant on technology to continue their operations. While these improvements have genuinely made people’s lives more convenient than before, the dependence on technology has also placed many sectors and individuals at risk.
Due to the excessive usage of technology, cyber crimes have been more prominent than ever. Year after year, many businesses are experiencing massive financial losses because of data breaches, information leaks, and the like. And e-commerce is one of the several industries usually targeted by cybercriminals.
In 2020 alone, consumers have reported spending around $800 billion on online purchases. This amount meant gold mines for criminals. Once criminals get a hold of the important and confidential information, they can quickly sell them and earn massive profits.
Companies need to ensure that they have a robust security system not only for their safety but also for their consumers. Fortunately, tech developers have come up with various strong customer authentication by eliminating the use of passwords.
Passwords are outdated authentication methods known for being insecure. Besides being a hassle to note, passwords can also be easily cracked by cybercriminals. Fortunately, FIDO (Fast Identity Online) Alliance has come up with a way to the world’s reliance on passwords.
FIDO2 is FIDO Alliance’s newest set of specifications that enables users to have a safer logging-in experience. This also allows users to leverage common devices to easily authenticate to online services on both mobile and desktop environments. Furthermore, FIDO2 eliminates the need to use passwords by incorporating multi-factor authentication (MFA) through biometrics and cryptographic keys for logging in.
While it is inevitable that criminals will constantly find a way to break through security walls, the development of passwordless logins allows industries to buy time and create more secure, private authentication for the future. More details about this can be found in this article by LoginID.
