If your organization is like most, you probably are. Password-based authentication introduces organizational risk at many levels. Employees sharing passwords creates a major security risk, while forgetting passwords can lead to financial risk stemming from the cost of the IT helpdesk wasting resources on resets. For employers, the security risk has never been more apparent: according to the World Economic Forum, 80% of all security breaches are caused by stolen and/or weak passwords.
Passwordless authentication is the process of verifying a person’s identification without the use of a password. Instead, the individual authenticates using one (or a combination) of these factors:
Something you know (security questions, PIN)
Something you have (hardware tokens, proximity cards, or phone-based methods)
Something you are (biometrics, such as a fingerprint, palm scan, facial recognition or voice recognition)
Regardless of the type of factor, passwordless authentication greatly reduces frustration and friction for end users while also drastically increasing security levels for organizations.
Today, passwordless authentication is not just a ‘nice to have.’ With 82% of business leaders stating they are ready and willing to implement a passwordless approach, it’s becoming the standard – and for good reason. Passwords introduce security risks, drain crucial business resources and create a cumbersome experience for end users.
Passwords can be hacked in a matter of minutes, so they are made longer and more complex. They become difficult to remember, so employees share and reuse them, making them the most common cause of hacks and breaches.
On average, it costs a company $70 for every password reset. To account for this, large organizations allocate more than $1M annually for password-related support costs for just phishing responses alone.
When a user needs to remember multiple, complex passwords or continues to get locked out of applications, frustration and password fatigue sets in.
Whether you’re looking to replace passwords as a single factor or implement passwordless Multi-factor Authentication (MFA) to secure desktops, shared workstations, or even to support remote access, going passwordless is a journey and does not happen overnight.
It’s a step-by-step process that we’re here to make as seamless as possible – using BIO-key’s unified IAM platform, PortalGuard. The robust platform supports Multi-factor Authentication (MFA), Single Sign-On (SSO), and Adaptive Authentication that, together, help build trust and ultimately eliminate your reliance on password-based authentication.
Using Identity-Bound Biometrics with PortalGuard Desktop allows you to authenticate quickly and securely with a simple fingerprint scan. Save countless hours and increase productivity with a consistent, frictionless user experience – no mobile device, token, or username necessary.
For web-based applications, PortalGuard provides tremendous flexibility, as all its supported authentication methods can be used without a password, including BIO-key FIDO-keys and all other FIDO2/WebAuthN tokens.
Unlike traditional authentication credentials, IBB cannot be shared, stolen, forgotten, lost or forged.
Ideal for situations where mobile phones and hardware tokens will not work, are not reliable or safe.
Enterprise-controlled enrollment to prevent account handovers and guarantee only approved individuals have account privileges.
Integrates with existing systems and applications while eliminating operational redundancies yielded by traditional authentication systems.
By 2022, Gartner predicts that 60% of large and global enterprises, and 90% of midsize enterprises, will implement passwordless methods in more than 50% of use cases — up from 5% in 2018.Ant Allan, Vice President Analyst, Gartner
See how IBB offers the highest levels of accountability and versatility by establishing trust that is rooted in a person’s biometric identity.
Implement authentication approaches such as adaptive, step-up, passwordless authentication.
Secure and access all your applications through a single point of strong authentication with a single IdP.
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