Majority of companies are not confident about traditional MFAs protecting against cyberattacks
IRVINE, CA – Nov. 29, 2023 – SecureAuth, a leader in next-generation access management and authentication, is proud to introduce the findings of the 2023 Authenticate Pulse, a comprehensive research survey conducted in collaboration with Gatepoint Research. The study enlisted senior decision-makers, including CXOs, VPs, directors, senior department heads, and IT security architects, to participate in a survey focused on the theme of “2023 IAM Priorities.”
As the digital landscape continues to evolve, users log in to access systems and applications constantly, traversing multiple networks, 24/7. In the quest to secure critical data and systems, organizations traditionally rely on passwords and various authentication methods. However, the persistent threat of security breaches looms large. While multi-factor authentication (MFA) is widely implemented across most organizations, this survey revealed that a staggering 80% of respondents lack confidence in MFA as a stand-alone solution. Furthermore, the majority expressed their dissatisfaction with the friction experienced by users when utilizing MFA. The survey also delved into the actions organizations are taking to enhance access and authentication, all while ensuring a seamless, frictionless experience for users.
Among the key survey findings are the following:
Traditional MFAs Fall Short: 80% of companies surveyed expressed a lack of confidence in traditional MFA’s ability to protect against cyberattacks. This stark statistic underscores the urgent need for organizations to reassess their authentication strategies in a rapidly evolving digital identity threat landscape.
Friction Remains a Concern: A significant 61% of users reported dissatisfaction with the friction created by legacy MFAs. These findings highlight the imperative of prioritizing user experience in the authentication process.
Rapid Shift Toward Passwordless Authentication: Close to two-thirds of the surveyed organizations have either adopted passwordless authentication or are actively planning its deployment within the next two years. The shift towards passwordless authentication is driven by the desire for stronger security, improved user experience, and compliance with cyber insurance requirements. The survey provided insightful responses to questions such as the access management and authentication technologies currently in use, the rationale behind the adoption of multiple identity and access management technology platforms, and the plans for implementing passwordless authentication technologies.
These findings from the 2023 Authenticate Pulse by Gatepoint Research underscore the critical need for organizations to reevaluate their access management and authentication strategies. In an era where cyber threats are increasingly sophisticated, and user experience is paramount.
“With over 80% of cyberattacks occurring at the credential level, it has become the weakest link,” said Paul Trulove, CEO of SecureAuth. “The survey results reveal that organizations are clearly adopting a modern authentication approach to have a more robust security approach and a frictionless experience for their users. SecureAuth is dedicated to ensuring the highest level of authentication and better user adoption with its passwordless continuous authentication solution that leverages its patented AI and ML-driven risk engine.”
For more information and to access the full report of the 2023 Authenticate Pulse survey, please click here.
About SecureAuth Corporation
SecureAuth is a next-gen access management and authentication company that enables a secure, passwordless, continuous authentication experience for employees, partners, and customers. With the only solution deployable in cloud, hybrid, and on-premises environments, SecureAuth manages and protects access to applications, systems, and data at scale anywhere in the world. To find out more, please visit www.secureauth.com.
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