Many businesses have gone from inputting different passwords to access systems to opting for credentials instead. You may be one of those companies considering investing in a passwordless login solution. We understand why. Passwords, though most convenient, are not the most secure.
Passwordless authentication uses a variety of security options that do not require inputting any strings of characters. These may include credentials such as IDs and licenses, biometrics like fingerprints and voice recognition, and hardware keys. While considered by some as not a passwordless form of authentication, one-time passwords (OTPs) may also fall under this category.
What are the Pros of Using Passwordless Authentication
There are a good number of reasons why businesses and other organizations switched to passwordless authentication. If you’re planning to invest in one, we’ve listed the benefits your business will enjoy.
No Password Thefts
You don’t need to worry about hackers nabbing passwords from your company because there’s no password to begin with. While there may be instances where a PIN or password is needed, the application will still be kept behind a wall of credentials and biometrics requirements that hackers can’t obtain.
Better User Experience
It’s a hassle to create new passwords for every account you have and even harder to remember all of them. Passwordless authentications usually only require specific items to be scanned so you and your employees can easily access applications and databases while maintaining security.
Decreased Administrative Costs
When you or an employee forgets a password and can no longer access an account, it’s up to the IT department to deal with it. However, resetting a password is tedious and expensive. Moreover, storing and managing passwords add to the work of your IT team. You can save overall security costs and reduce total workload by opting to use passwordless authentication.
Passwords are easy to steal and bypass. Sometimes, cybercriminals use brute force – they spend their time guessing passwords by trial-and-error until they figure it out. Additionally, your passwords may have been stolen or sold online without you knowing.
Passwordless authentication is far better than unique strings of characters in protecting your sensitive business data from various cyberattacks.
The Cons of Using Passwordless Authentication
Passwordless forms of authentication have many advantages; however, this security system is a double-edged sword. The pros greatly outweigh the cons, of course. Still, here are some of the disadvantages associated with passwordless security.
Hackers can Bypass Biometrics
Technology evolves quickly, and so do hackers. With the introduction of digital image manipulation software, cybercriminals have found a way to use the original picture of the owner to fool the authentication system. They can also keep recordings of a user’s voice, create copies of fingerprints, and detailed retina images.
Defenseless in Device Theft and SIM Card Swaps
Passwordless authentication won’t be able to do anything in case a device is stolen. Intruders can easily bypass the OTPs, magic links, PINS, and other non-biometric credentials by generating them on SMS messages and emails. Moreover, hackers often do SIM swapping, in which passwordless authentication is entirely defenseless. In SIM swapping, the hacker reports a missing SIM card and requests a replacement with the victim’s number.
Increased Operations Cost
While you get to save money on password resets and storage, the cost of implementing passwordless authentication can be pretty expensive. You must purchase USBs for hardware keys, spend on magic links generation and other software and applications. Development and replacement of lost hardware will also add to the bill, often even more than password resets.
Thinking of implementing an efficient passwordless authentication for your business? Visit authID at their website https://authid.ai/ to learn more about their services.