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The Entersekt blog.

Industry news, security threats, and technology advances in consumer authentication
Passwordless authentication: The future is here

Passwordless authentication: The future is here


Passwords suck! There, I said it. We've all heard it said many times before, but it’s worth repeating. The concept of gate-keeping access to digital services with a username and password may have been appropriate, and even good practice, in the early days of computing when a person might only have one or two logins to maintain. However, in today’s world where people have hundreds of accounts, they tend to re-use one password for multiple accounts or outsource the job to a password manager service. And even if you do manage to create a complex and unique password for each account, and remember it at the time of login, there is still the problem of data breaches, which are becoming all too common. 

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Snippet: Durch PSD2 wird es zu einer ganz neuen Marktdynamik kommen. Einerseits müssen sich Banken auf Belastungen durch neue Compliance-Anforderungen und erweiterte Haftungsrisiken einstellen, andererseits entstehen durch das regulatorische Rahmenwerk auch neue Umsatzchancen.

Durch PSD2 wird es zu einer ganz neuen Marktdynamik kommen. Einerseits müssen sich Banken auf Belastungen durch neue Compliance-Anforderungen und erweiterte Haftungsrisiken einstellen, andererseits entstehen durch das regulatorische Rahmenwerk auch neue Umsatzchancen.

Snippet: I sometimes think that here, in the IT security sector, we’re having the wrong conversation about authentication. As we debate the respective merits of the various solutions, we’re in danger of forgetting the most important member of the value chain: the customer.

I sometimes think that here, in the IT security sector, we’re having the wrong conversation about authentication. As we debate the respective merits of the various solutions, we’re in danger of forgetting the most important member of the value chain: the customer.

Snippet: Every organization has its own unique IT environment, but there are a few guiding principles that apply across the board. Follow these rules to ensure a successful SCA implementation.

Every organization has its own unique IT environment, but there are a few guiding principles that apply across the board. Follow these rules to ensure a successful SCA implementation.

Snippet: Mobile wallet adoption in the US is increasing as more secure options become available, and as the technology continues to improve, it is important for both banks and consumers to realize the benefits of this particular payment model.

Mobile wallet adoption in the US is increasing as more secure options become available, and as the technology continues to improve, it is important for both banks and consumers to realize the benefits of this particular payment model.

Snippet: Not all authentication solutions are created equal. A weak solution is a chore for your customers, something that stands in the way of them doing business or shopping or communicating.

Not all authentication solutions are created equal. A weak solution is a chore for your customers, something that stands in the way of them doing business or shopping or communicating.

Snippet: Organizations from across Europe – and, in fact, the rest of the world – would be forgiven for seeing compliance with the European Union’s General Data Protection Regulation (GDPR) as just another burden on their already overstretched resources.

Organizations from across Europe – and, in fact, the rest of the world – would be forgiven for seeing compliance with the European Union’s General Data Protection Regulation (GDPR) as just another burden on their already overstretched resources.

Snippet: The researchers are now arguing strongly against the use of a single device in authentication. Their message is that if a device is compromised, everything undertaken on that device is also compromised.

The researchers are now arguing strongly against the use of a single device in authentication. Their message is that if a device is compromised, everything undertaken on that device is also compromised.

Snippet: In October 2017, Mathy Vanhoef and Frank Piessens from the University of Leuven in Belgium revealed the viability of what they term the “key reinstallation attack” (or KRACK).

In October 2017, Mathy Vanhoef and Frank Piessens from the University of Leuven in Belgium revealed the viability of what they term the “key reinstallation attack” (or KRACK).

Snippet: This year will be an important one for financial services, with security taking center stage in a number of pivotal trends and regulatory changes, including open banking and the arrival of new, flexible fintech services, as well as the activation of the European Union’s PSD2 and GDPR regulations.

This year will be an important one for financial services, with security taking center stage in a number of pivotal trends and regulatory changes, including open banking and the arrival of new, flexible fintech services, as well as the activation of the European Union’s PSD2 and GDPR regulations.

Snippet: More companies are implementing mobile biometric authentication to increase security and reduce fraud. According to a recent report, the worldwide mobile biometrics market is expected to exceed $50.6 billion in revenue by 2022, growing from a base of $6.5 billion in 2016, but despite this growth, financial institutions and consumers harbor legitimate concerns about whether mobile biometrics actually delivers on its promise of improved security.

More companies are implementing mobile biometric authentication to increase security and reduce fraud. According to a recent report, the worldwide mobile biometrics market is expected to exceed $50.6 billion in revenue by 2022, growing from a base of $6.5 billion in 2016, but despite this growth, financial institutions and consumers harbor legitimate concerns about whether mobile biometrics actually delivers on its promise of improved security.

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Entersekt is an innovator of customer-centric fintech solutions. Financial services providers and other enterprises rely on our patented mobile identity system to provide both security and the best in convenient new digital experiences to their customers, irrespective of the service channel. With us, they can concentrate on their innovation roadmap, while delivering intuitive, low-friction digital experiences to their customers.