Cybercriminals are getting more sophisticated. Online security breaches are becoming more common. And that means that your password security — as it exists today — may not be strong enough.
“If you look at the password, it’s not even technology … it’s a process that’s left over from the horse and buggy era, and we’re using it to protect our financial information, our health information, our online activities. It was always inevitable that passwords would be replaced.”
To be perfectly accurate, Authy doesn’t really replace your password. The app makes it stronger, according to Authy, by adding a second step in the authentication process. When signing in anywhere on the Web, users of the app enter their existing password first. Then they add a constantly changing code generated by the app to complete the sign in process.
The result is obvious. Your password will be harder — if not impossible — to crack, if it is literally always changing with each new sign-in.
Developers and businesses that want to use the service need only drop a few lines of code into their system. This allows Authy users to take advantage of the more secure sign-in method if they so choose. And while Authy does charge businesses a fee when people use the authentication method, it’s much less complicated than developing a whole new security system. For small and medium sized businesses that don’t have the technical staff and resources to do so, it can also be much cheaper.
Companies like Google have been working on alternatives to the password for some time. But Boroditsky says that Authy is much simpler to set up and use.
Today’s consumers are increasingly concerned with security. Particularly for businesses that deal with sensitive information, offering a more secure log-in process like this could set you apart. And in the future, it could even become the norm.
Boroditsky predicts that two-step verification will become standard practice for most online portals within the next three years. He adds:
“Customers have said to me, ‘I use two-factors anywhere I can.’ They recognize that a single string of letters and numbers is just not enough to protect what you do online anymore.”
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