The Importance of Multi-Factor Authentication

Oct 16, 2017 | By Michael Lareau

When you go to a bank and hand a teller a withdrawal sheet with your account number requesting hundreds of your hard earned dollars, the teller’s response should be one you would expect, “May I please see your ID”? Frankly, as an account holder, you want this level of protection - you want the bank teller to verify your identity before handing out your savings. Certainly you don’t go around handing out your savings account number, but can you imagine what your balance would look like if tellers handed out money by simply just asking for an account number? By asking for your ID, the teller is following a multi-factor verification process. The teller has asked you to provide something you know (your account number) followed by something you have (your ID) and verifying the two match. This is the basis for Multi-Factor Authentication (MFA).

Implementing MFA enhances the security of your environment by requiring users to provide a randomly generated key/confirmation from a device they have possession of in addition to their current passwords.

I think we can all agree that we should protect our savings with MFA, but why should we treat our information and remote access to our critical infrastructure any different? With all the recent news articles about security breaches it is vitally important to have this added level of protection in your environment.

MFA solutions are a cost effective way to ensure those users who are accessing your environment are who they say they are, and with available reporting tools you can have insight and accountability for your environment every step of the way.

Please contact us you have any questions or comments about MFA, or would like a demo to see MFA in action!

IBS understands the role of technology and its importance in helping us deliver banking services to our members.
Paul Pijanowski, Sr. Vice President, Crescent Credit Union

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