HID Global, a global provider of trusted identity solutions, announced that it has been recognised by Enterprise Security Magazine as one of the top ten providers of multi-factor authentication technology in the world.
Touted by security experts as one of the most critical methods for ensuring that only authorised people may access important data, multi-factor authentication protects digital identities and online information. It prevents fraudulent access that happens when username and password are stolen.
Recognition of HID as a leader in the multi-factor authentication market underscores our commitment to securing digital identities and creating trusted digital and physical environments"
Multi-factor authentication for data security
“When people think of multi-factor authentication, they now increasingly think of HID Global,” said Brad Jarvis, Vice President and Managing Director, IAM Solutions, HID Global. “Recognition of HID as a leader in the multi-factor authentication market underscores our commitment to securing digital identities and creating trusted digital and physical environments.”
The rise of multi-factor authentication in recent years is a direct response to all the major data breaches that have rocked people’s confidence in accessing online accounts. Javelin Strategy & Research reported its most recent Identity Fraud Study that the number of identity fraud victims increased by eight percent to 16.7 million U.S. consumers in 2018. Moreover, account takeovers tripled over the past year, with total losses growing to $5.1 billion.
Increasing security with multi-factor authentication
High-profile data breaches have happened recently because hackers exploited a critical vulnerability: all that was required to gain access to networks, databases and physical locations was the single authentication factor of something you know – usually a username and password, which can be relatively easy for fraudsters to acquire. Verizon did a study (Verizon, 2017 Data Breach Investigations Report) that claimed 81% of data breaches globally involved the misuse of stolen or weak passwords.
Adding multiple factors increases security by creating an additional barrier against account takeovers and digital identity theft
Multi-factor authentication solves this problem by combining one or more ‘factors’: something you have (a smart card or a mobile credential carried on a smartphone or other mobile device); something you know (such as a PIN), and something you are (biometrics). Adding multiple factors increases security by creating an additional barrier against account takeovers and digital identity theft.
Mobile technology for smart and secure access
HID Global is an expert in providing governments, financial institutions, universities, healthcare networks and enterprise organisations with the tools to verify and protect identities with multi-factor authentication technologies. Bolstered by a broad product portfolio for managing and authenticating identities, HID is an industry leader in smart cards and offers advanced biometrics solutions.
Furthermore, HID uniquely delivers an advanced, layered, strong authentication capability that utilises mobile technology to ensure simplified, secure access.