| | March 2022ENTERPRISE SECURITY6Analysts predict that the multi factor authentication (MFA) market will continue to grow, fed by the demand for more secure digital payments and rising threats, phishing attacks and massive breaches of large collections of passwords. Adroit Market Research predicts the overall MFA market will reach $20 billion by 2025, while another analyst predicts 18 percent annual revenue growth between now and 2024. This growth is also motivating MFA vendors to add new factor methods and make their products easier to integrate with custom corporate and public SaaS applications.However, the bad news is twofold. First, there is a growing rift in trust among users, caused by the abuses of private data by Facebook and others. Facebook has poisoned the well of trust for any IT vendor and engendered a higher level of paranoia among users when it comes to their online security and privacy. You would think that would encourage more adoption of MFA, and there is some uptake, but this trust deficit has also raised the bar for more usable MFA tools, with the result being MFA adoption is still far from universal.Over time, more Apps are incorporating security and authentication methods directly into their code. The progress in the MFA method is the outcome of efforts by MFA vendors that have very complicated APIs to construct the MFA routines as part of the app itself.Another trend is the use of fingerprint and facial readers. The services are mostly available on Smartphone to access to different applications. Different firms have started using the authentication process to secure their client and users data. Block-chain based approach is one of the best things, which distributes biometric data and makes this method more secure and less vulnerable to data breaches.If anything, this proves that MFA alone is not stopping attackers. It needs backup, which brings us back to the one thing within an organization's power: knowing which of your user's credentials have been compromised elsewhere. Your MFA implementation needs to be supported by continuous monitoring for exposed credentials. The ability to be alerted when accounts are compromised early in the breach lifecycle (before criminals can exploit them for all manner of MFA bypass techniques) ensures you get the most out of your MFA investment.Let us know your thoughts.Multi Factor Authentication in a WFH WorldEditorialRussell Thomas Managing Editor editor@enterprisesecuritymag.comMARCH - 28 - 2022, Volume 8 - 02 Published by ValleyMedia, Inc. (ISSN 2691-4034) To subscribe to ENTERPRISE SECURITYVisit www.enterprisesecuritymag.com Copyright © 2022 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Managing EditorRussell ThomasEditorial StaffAaron PierceAlex D'SouzaAva GarciaJustin S GonsalvesJoshua ParkerSri KrishnaVisualizersAsher BlakeSalesAlena D'Souzaalena@enterprisesecuritymag.comEmail:sales@enterprisesecuritymag.comeditor@enterprisesecuritymag.commarketing@enterprisesecuritymag.comDisclaimer: *Some of the Insights are based on our interviews with CIOs and CXOs
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