The most apparent advantage of strong password security is that it prevents unauthorized users from accessing your online accounts. Many individuals only use one or two passwords across dozens of websites and applications to avoid being locked out of their accounts.
Users do this mainly out of convenience. Naturally, this implies that if your password is hacked, a hacker who knows your surfing history or investigates famous websites may have free reign over a significant portion of your online presence.
What fewer people realize, however, is the scope of the data they save online and the potential treasure mine that this data might offer to cyber criminals. Imagine, for instance, the scenario in which an individual gains access to your sensitive information stored across multiple accounts.
In that case, they may not only be able to make transactions in your name but also assume your identity and create new accounts in your name. There's also a possibility that you have information stored on your computer or online that you'd prefer not to share with others or that you only have a single copy of.
Regarding organizations, keeping accountability is just as important as securing critical files and information with strong passwords and other forms of password protection. If you restrict access to your systems so that only authorized users can use them, you will be able to manage and monitor who is accessing the data and the locations from which they are doing so.
Hacking a business account disrupts this order and undermines networked data. When it comes to following best practices for passwords and getting the most out of the protection they may provide, several distinct standards need to be followed.
Passwords should be strong but not so obvious that an attacker might crack them quickly. For example, an attacker may easily break single-word passwords or utilize the information personal to the user (such as the user's mother's maiden name) by utilizing various attack techniques.
If you use complicated passwords or even passphrases, it will be considerably more difficult for a hacker to get into your account successfully. However, having hundreds of unique passwords that are difficult to crack sometimes causes users to breach the second best practice for passwords, which is to never write your passwords down.
It is simple to misplace a sheet of paper and simple for someone to make off with a notebook full of passwords. If anything similar occurs, your accounts run a significant danger of being made public and misused.
Reusing passwords across several accounts is another error that is often made. If a hacker can get their hands on only one password, they will instantly be able to access many accounts. The procedure of gaining access to the information stored by a user is simplified as a result.
Passwordless Authentication as a Solution
Over the past few years, the use of Passwordless Authentication has grown steadily. Google, Microsoft, and Apple recently announced their plans to expand support for a common passwordless sign-in standard created. More than that, experts predict passwordless authentication will overtake password usage by 2027.
To expedite the passwordless movement, GlobalDots, a cloud innovation leader, partners with Transmit Security, a provider of customer identity and access management SaaS solutions, to offer biometric authentication, giving their experience a new level of security.
GlobalDots, a cloud innovation platform, partners with Transmit Security, a leading provider of customer identity and access management (CIAM)solutions, to offer its passwordless and multifactor authentication services to GlobalDots’s clients. Through the partnership, GlobalDots enables the smooth integration of Transmit Security’s CIAM solutions into its clients’ IT stack.
Managing passwords becomes increasingly challenging as we rely more on online services. Compromised passwords lead to account takeovers, which pose existential threats to customer-facing businesses. Account takeovers led to an estimated $11.4 billion in losses in 2021, caused mostly by compromised passwords.
This partnership with Transmit Security empowers GlobalDots’s global-customer base to benefit from the SaaS provider’s biometric authentication solution. Through the passwordless and MFA services within its CIAM platform, Transmit Security can offer companies advanced FIDO2 biometric authentication (i.e., passkeys) that simplifies customers’ omnichannel experiences, increases assurance, and phases out passwords.
By providing client-facing organizations an alternative to standard passwords, Transmit Security wants to enhance the customer experience while almost eliminating possible security issues such as man-in-the-middle attacks or hostile account takeovers. This will be done with GlobalDots helping businesses understand how this solution integrates optimally.
As a 20-year web and cloud innovation leader, GlobalDots is dedicated to providing the best innovations for businesses amid an ever-changing climate of threats. GlobalDots provides a holistic view of a client’s tech stack and the experience of managing these complex architectures.
Therefore, integrating Transmit Security’s CIAM platform further enhances GlobalDots’s ability to provide the most advanced and all-encompassing security offerings. In addition, by partnering with Transmit Security, GlobalDots adds another tool to its innovative security arsenal, empowering businesses to ensure sustainable business growth without compromising on and enhancing customer experience.
“Transmit Security’s innovative use of biometric technology for passwordless solutions allows GlobalDots to bring the passwordless future into the present,” says Yuval Rachlin, CEO of GlobalDots.
“We will help our partners understand how to best leverage this cutting-edge solution and will work with them to implement it into their IT stack. Through this partnership, we continue to provide our clients with the highest level of security and innovation, enabling them to continue focusing on their business operations and maximizing their ROI.”
“GlobalDots brings decades of experience delivering and integrating innovative technologies for customers in all industries around the globe,” says Rakesh Loonkar, President and Co-Founder of Transmit Security.
“Businesses today need more secure, user-friendly, and omnichannel authentication services as part of their overall CIAM strategy. We’re pleased to partner with GlobalDots to help more businesses deliver exceptional customer experience and account protection—without compromises.”
Many individuals use password management software to keep track of their different, complicated passwords to adhere to the best practices. However, if you decide to use this kind of software, you must do extensive research on the safety practices of the firm that produced it.