December 19, 2018
Authentication is used to provide selective access to sensitive information and essentially prove that you are, in fact, well… You! This is especially crucial in the financial market where authentication serves as the main barrier that prevents funds from being stolen.
A 2018 Experian study found that almost three-quarters of businesses (72%) cite fraud as a growing concern over the past 12 months and nearly two-thirds (63%) report the same or higher levels of fraudulent losses over that same period. In 2017, the number of data records compromised in publicly disclosed data breaches surpassed 2.5 billion – up 88% from 2016.
Identity theft is still the number one type of data breach: identity theft accounted for 69% of all data breach incidents in 2017. Over 600 million records were impacted, resulting in a 73% increase from 2016.
Today, different authentication technologies offer a variable degre ...