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What Is Two Factor Authentication (2FA)?

Today's businesses need to provide a frictionless experience to their online users, as well as ensuring the security of the business networks.  Unfortunately, most companies still rely on using username and passwords as their only means of authenticating customers.  Username and passwords are often forgotten and can be easily stolen or compromised by cybercriminals.  Two factor authentication offers an additional layer of security to help protect your customer accounts and your business.

Two-factor authentication (2FA) is often used to compensate for the weakness of passwords. Although 2FA enhances the authentication process, it leaves some problems unresolved and creates others.

A Seamless Two Factor Authentication Solution

Our ClearKey solution can be easily added to your existing process without adding customer friction. It provides customers with an invisible, hassle-free web experience by recognizing and using their device as a second factor of authentication. Double your protection with our advanced two-factor authentication (2FA) solution.

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How Does Two Factor Authentication (2FA) Work?

Two-factor authentication (2FA) is more secure than a one-time password (OTP), but 2FA does have drawbacks.

  1. Two factor authentication relies on symmetric key cryptography, which uses the same keys for encryption and decryption. This approach doesn’t adequately secure the shared secret. If the user’s device or the app is compromised, the attacker can obtain and use the shared secret to generate his own token. Further, a token may be intercepted when it’s delivered to the mobile app for use.
  2. Two-factor authentication affects the user experience. OTP's expire quickly and aren’t always received on mobile devices in near real time. 

What Is The Difference Between 2FA & MultiFactor Authentication (MFA)?

Watch the short video below to learn more about the differences between 2FA and MFA also known as multi-step verification.

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The three primary types of authentication factors are:

  1. Knowledge Factors: A knowledge factor is something that the user knows such as: a password, a challenge question, or a personal identification number (PIN).
  2. Possession Factors: A possession factor is something that the user possesses such as: a physical device, such as a security token or smartphone.
  3. Inherence Factors: An inherence factor utilizes a physical characteristic that inherently represents a unique user such as: fingerprint, facial recognition, or voice recognition.  

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