Goodbye Passwords: Using Biometric Authentication for Your Business

Who isn’t concerned about hackers and internet safety these days? Many businesses have began exploring ways to reduce hacking incidents, like ending passwords with biometric authentication. This high tech authentication solution uses faces, fingerprints or iris scans for identity confirmation.

An Increase in Biometric Scans in the Workplace

With a rise in the number of hacking incidents, businesses are being forced to take precautions to protect their data and financial records. According to estimates, the WannaCry ransomware attack affected over 150 countries and cost businesses over $4 billion.

For many businesses, biometric scans are a feature that they’ve already implemented with fingerprint scans. Fingerprint scans are being used for Bloomberg trading desk terminals to unlock computers that include client financial data and for work door access at banks. Contegix also uses fingerprint scans to access our data centers. Fingerprint scans are even becoming more commonplace outside of the office with 60 percent of new smartphones including fingerprinting sensors.

Currently, 57 percent of businesses are using fingerprint scanning in the workplace, while only about 15 percent are using facial recognition features. CNN suggests that by 2020, 86 percent of businesses will use biometric scans.

Ending Password Identifications

With the introduction of Windows 10, a new Microsoft feature called Windows Hello allowed users to log in with facial recognition scans. The feature, Dynamic Lock, can work with a user’s devices. With inactivity for short periods, it automatically locks devices.

Businesses are using features like Windows Hello biometrics to get rid of passwords. This comes at a time when more businesses are suffering debilitating financial losses from hacking breaches that hinder consumer confidence, as was the case with Target’s hacking incident where its estimated sales fell by 46 percent.

Tech Report estimates that by 2022 over 5.5 billion biometric authentication devices will be used, and projected revenue which was $474 million last year will increase to $18 billion by 2022.

Minimal Concerns with Biometric Authentication

As passwords are weak because keystrokes can be recorded, biometric authentication is proving to be a better alternative than changing passwords or using a two-step authentication process.

The advantage of biometric authentication is that a facial scan, fingerprint or iris scan cannot be replicated. There have been concerns over how facial recognition handles older photos of the actual person.

With heightened concerns over protecting the public’s data, businesses are using apps to build employee profiles. BioCatch is a biometrics security firm that uses digital behavior tracking tools that can help identify unauthorized users. The company monitors over 5 billion transactions each month for banks all over the world and builds behavior profiles. These can tell specific activities such as how long users pause between screens, how they hold a phone, type and other user-specific patterns.

Ultimately, as technology advances, so does risk. Biometric authentication is meant to enhance user protection and privacy online. Redefining digital identities can help to protect the public at a time when anyone can look up a person’s mother’s name or their first pet’s name on social media. Contact us today to find out how you can protect your data at the infrastructure level.