How many usernames and passwords do you have? Just think about how many accounts and websites you log into regularly. It’s been noted in different studies that an average person can easily have 100 username and password combinations. From your email accounts, Netflix, online shopping (at more than one store), work access, financial accounts, the list goes on. Think of all the time you’ve lost resetting forgotten passwords and PINs. And when you try to simplify that process with easy-to-remember passwords, you’ve opened yourself up to potential cybercrime like identity theft and fraud. Studies suggest people forget their passwords so much that on average people have reset their passwords within the last 90 days. When was the last time you had to reset your password?
Many companies are trying to combat cybercrime by securing credentials with multi-factor authentication. For example, every time you log into an account, a one-time code is sent to your mobile phone or to your email account to validate that it is really you … Which email account? Do I have my mobile phone handy? Can I find that code before it expires? The truth is that solutions like OTP have limitations and security tokens can often fail or break. Sometimes what is expected to make a customer’s experience easier and more secure just becomes more frustrating and cumbersome.
So, the question is … have we outgrown passwords altogether? A long time ago, in the first decade or so of the internet, passwords made sense. However, as technology has evolved passwords really haven’t. At the core of things like OTP and PINs are still fragile passwords that require a heavy lift of maintenance that the average person can no longer sustain. This combined with the advancements in biometrics and its widespread availability, it seems as though we are at the front door of the evolution of authentication.
These types of authentication solutions should fly under the radar of your existing product or service. Authentication solutions like Wink, offer easy to install SDKs that can be used to create a seamless user experience within their brand all while mitigating fraud and identity theft.
The next generation of authentication that can protect your identity AND secure your account access is here. Companies not just across the nation but across the globe are looking to integrate enhanced solutions that make sense and leave passwords on the eve of extinction. Finally, we could say goodbye to passwords altogether.
Goodbye Passwords. Hello Wink!