All online business and customer engagements must have appropriate security implementations to ensure safe and effective communication. One of these security implementations is in the form of the Two Factor Authentication Process. Two-factor authentication (2FA), also known as multiple-step verification, is a process by which a user’s identity is double-checked to determine their legitimacy before. In most cases, an online account holder will be required to present two separate passwords in order to access their account.
The first password, determined by the user, is the user’s primary password and the second is an authentication code or a one-time password (OTP) which is sent from the application to the user via SMS or email. The authentication code, or OTP, will be different for every login and needs to be entered into the application or website within a certain time period in order to access the account.
The use of SMS for two-factor authentication has become a popular security tool for many businesses that offer an online service. A well-known example is the two-step verification required when signing into a Google account. Activating this feature means that whenever you sign in to your Google account, you are required to enter your primary password as well as a one-time password which is sent to your phone via text, voice call, or via the mobile app.
The benefits of using SMS-based two-factor authentication include:
Fraud Prevention: An extra layer of security prevents fraudsters from being able to access customer information that does not pertain to them. This means that there will be more barriers up and vital information not at their disposal would be required to access the accounts. An example akin to this is the security protocols for accessing a cell phone whereby users can set up passcodes and use their thumbprints for verification, making it harder for those trying to unlock it.
Cost Reduction: Your business saves up a lot of money with the application of a 2-Factor Authentication System than it would be constantly putting out information regarding security risks as well as helping customers reset their passwords when fraudulent activities occur.
Convenience: 2FA comes with easy deployment because all you have to do in addition to a standard sign-in is input a unique code sent to your mobile phone. That is all it takes to ensure the safety of customers’ data, and what compels them to utilize this sign-up process rather than using a complex and long password that they could forget.
Reputation Boost: Customers that log in to make business transactions appreciate how secure their data is and spread the word to others which marks your business as one respectful of their privacy. This causes the build-up of a good reputation spelling growth in sales and customer loyalty.
Productivity Increase: With customers’ data being more secure, employees can focus their attention on other areas of company work that are sure to increase their productivity making room for improvement in other service aspects. For example, the tight-knit security of restaurants’ customer data during online delivery transactions allows them to focus on other aspects of the business such as food choices and ways to improve customer experience.
At Arkesel, we offer an SMS API that is easy to integrate into your two-factor authentication solution. We aim to give you a safe and hack-proof solution that will maintain the hard-fought trust you share with your customers. For more information on our two-factor authentication service. Visit https://arkesel.com/phone-number-verification to get caught up and prepped for this new addition to your business. Bigger and better things lie in wait with Arkesel Verification Systems.