Commonly referred to as ‘the knowledge factor’ in authentication, passwords typically relate to something the consumer knows or, in most cases, must try to remember and store.
However, two other factors of authentication – possession (something you have, such as a mobile device) and inherence (something you are, such as a fingerprint) – promise greater security and better experiences. Also called two-factor authentication (2FA) or multi-factor authentication (MFA) when used in combination, they hold the key to a passwordless future.