More Enterprises Use Multi-factor Authentication to Secure Passwords
Fifty-seven percent of enterprises surveyed globally are using multi-factor authentication (57 percent), up by 12 percent from last years findings, according to the Password Security Report by LastPass.
Overall, 95 percent of employees using multi-factor authentication (MFA) are using a software-based MFA option, such as mobile apps. Only four percent use a hardware-based solution and just one percent use biometrics.
Additionally, 62 percent of enterprises currently use biometric authentication technology and it is predicted that nearly 90 percent of enterprises will use it by 2020.
Employees at small enterprises have an average of 85 passwords to manage compared to 25 passwords for those at the largest companies. Employees at small enterprises reuse 10-14 passwords compared to just four among employees at larger enterprises.
Percentage of enterprises with employees using MFA by industry:
- Technology/Software - 37 percent
- Education - 33 percent
- Banking/Financial - 32 percent
- Telecommunications - 31 percent
- Government - 27 percent
- Manufacturing - 27 percent
- Health - 26 percent
- Retail - 24 percent
- Not-for-profit - 21 percent
- Media/Advertising - 21 percent
- Legal - 20 percent
- Insurance - 20 percent
Average number of passwords per employee by industry:
- Media/Advertising - 97
- Telecommunications - 81
- Technology/Software - 78
- Legal - 75
- Retail - 73
- Health - 71
- Banking/Financial - 69
- Manufacturing - 67
- Education - 64
- Insurance - 59
- Not-for-profit - 57
- Government - 54