KoolSpan U: Weekly Word Wednesday – Multifactor Authentication (MFA)

Single-factor authentication, usually in the form of a password, has proven to be an inadequate security solution for many companies and individuals as cyber security threats have increased. To combat hackers and harmful parties from entering into private systems, companies and government have implemented multi-factor authentication strategies, especially in areas such as online banking. While passwords generally provide adequate security for websites and applications that do not contain any private or highly-sensitive personal information, hackers have become so clever when it comes to cracking passwords, that they can no longer secure extremely sensitive information.

The multifactor authentication solution combines two or three independent authorizations, which help to prevent hackers from gaining unauthorized access to private information. Some levels of multifactor authentication may include a knowledge-based credential, a security token or physical aspect, such as a smart card. Biometric verification has even become popular over the last few years. The evolution of multi-factor authentication in recent time has been driven by regulations and standards set forth by Federal agencies and large corporations who deal with such private data and transactions.

Koolspan aims to provide these groups with multi-factor authentication via the TrustChip, which encrypts data and secures communication between users. Furthermore, the TrustChip can be used with TrustCenter, TrustGroups and TrustBridge to ensure privacy between larger and unique groups of users. For more information, please contact us today.