With mobile usage a dominant channel going forward, authentication techniques need to move beyond two steps forward for authentication and one step backward for user experience. Just as passwords are being discarded because of the high friction they create for users, new multi-factor authentication techniques are moving in.
A significant fraction of Americans are using COVID- and presidential-candidate-related passwords online, according to annual password strategies report.
Account takeover and fraud schemes are costing consumers, banks, retail organizations, healthcare and other online businesses billions of dollars each year. What’s more, the cost of these attacks is on the rise—according to Riskified, losses from account takeover rose 122 percent from 2016 to 2017 and increased by 164 percent the following year.