Multi-factor authentication is the means by which a user is authenticated by a number of different authentication methods or factors. This can be coupled with contextual data analysis, layered together to deliver a stronger and more user friendly solution. As security breaches have increased, industry has realized that they require more than one element (typically a password) or ‘factor’ of security but also need to create a simple and frictionless user experience. ValidSoft’s User Authentication platform is designed to utilise a combination of ‘Something You Have’ (device), and ‘Something You Are’ (biometric), which can be combined with other factors and contextual data, according to requirements and the channel of operation.
When only one factor, such as a password, is used for authentication then it can be easily targeted and breached. However, when an authentication decision is made based on multiple factors, some visible and some invisible, coupled with contextual data unique to the user, transaction and channel, then it becomes almost impossible for someone to target and breach so many different elements all at once. The increased number of data points provides a significantly stronger and more accurate method for securing transactions. Utilising a number of factors, businesses have a greater degree of flexibility and control ensuring great user experience without compromising the level of security.