The cybersecurity landscape is rapidly evolving, with cyberattacks becoming more sophisticated and frequent. The average cost of a data breach is $4.45 million, and cybercrime is projected to cost the global economy $9.5 trillion in 2024. This whitepaper discusses the importance of strengthening user authentication through passwordless login and phishing-resistant multifactor authentication (MFA) to comply with emerging cybersecurity standards and protect systems, data and devices.

86% of security breaches for web applications are tied to compromised user credentials, and credential issues account for over 60% of compromise factors across all platforms and applications. Passwordless authentication using Radio-Frequency Identification (RFID) or Near-Field Communication (NFC) is a simple and easily implemented solution for single sign-on (SSO) and secure user login to computers, printers, networks and cloud-based applications. When combined with a simple user PIN or biometric for MFA, RFID/NFC eliminates many of the risks associated with traditional MFA methods such as one-time codes and push notifications. Passwordless login with RFID/NFC is simple to implement using the ID cards or mobile credentialing systems organizations already have in place.

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SOURCE Elatec