Loginid: Goodbye Passwords!

Authenticating a user’s identity remains a challenge due to various fraudulent acts, particularly the Account Takeover (ATO) fraud. It has impacted various businesses in various industries such as financial, healthcare, telecommunication, and more.

Today, fraudsters apply sophisticated techniques to obtain and compromise highly valued data. Such deceitful attacks prove that traditional passwords and authentication methods can no longer keep confidential data safe.

Unfortunately, as cybercriminals continue to develop their capabilities, people still rely on traditional password management habits. In truth, many use the same passwords and usernames for different accounts, greatly increasing the likelihood of an attack.

While people have been accustomed to using passwords for a long time, it is time to consider a more secure, practical, and effective authentication solution. Thanks to biometrics technology, the world can get rid of passwords for authentication purposes in the near future.

Biometrics technologies can be used to identify individuals based on their unique biological traits or behaviors. For example, facial recognition, fingerprint scanning, and even retina scanning are the most recognized options when it comes to biometric technology.

Biometrics is a product of advanced technology and serves as a protective layer to many personal and enterprise security systems. With the unique identifiers of an individual’s biology and behavior, it makes it harder for cybercriminals to perform malicious acts.

There are many providers for authentication solution with standards that can help businesses meet the psd2 strong customer authentication.

LoginID is one of the best FIDO-based multifactor solution with fido2 certification that can offer frictionless authentication. Additionally, the solution can give users peace of mind by providing them accessible, secure way to login, and transact with any LoginID-integrated platform.

More importantly, LoginID helps organizations reduce internal fraud and increase their customer convertion rates.

For more information about biometric authentication, click LoginID: Goodbye passwords!