What is MFA?

Do you want to know everything about multi-factor authentication and what MFA is beneficial for? This article will provide you with the information you need.

There are over 6.5 billion smartphones. A large percentage of them have one or multiple user accounts linked to their devices. 

They also share those accounts on their personal and professional computers, which makes the risk of cyberattacks a serious concern. `

Making devices safe by encrypting them with multiple levels of security is essential. This is where MFA comes in, so let’s talk more about it and how beneficial it can be in today’s world.

What is MFA (Multi-Factor Authentication)?

MFA, or Multi-Factor Authentication, is a set of security methods that a real owner of an account or service has to pass through to gain access to that account. You need to pass or provide two or more methods, often tied to possession, knowledge, inheritance, or location.

MFA has made critical and vulnerable banking, shopping, and social media accounts safer and more secure than ever before. 

But how does it work, and why do you need this technology? Let’s find out in the next section!

How Does Multi-Factor Authentication Work?

As the name suggests, multi-factor authentication requires you (the real owner of an account) to proceed through two or more security methods to gain access to the account. 

These methods or factors are laid out in a sequence, the first of which is often the username or password, followed by one or multiple others.

What are the multi-factor authentication types or methods?

There are three main multi-factor authentication categories, each comprising several authentication factors corresponding to that type. Those are:

• Knowledge-based authentication methods category;
• Possession-based authentication methods category;
• Inherence-based authentication methods category;

Let’s take a look at each of the categories and the methods they contain.

Knowledge-based methods

Knowledge methods require you to provide knowledge of information to gain access to that account. This knowledge can include:

• A password: you provide a hidden phrase along with your username. This is often the first authentication method used to access an account.
• A one-time password (OTP): you must provide a hidden phrase called a one-time password which is only valid for one login session.
• A PIN: A PIN is a hidden authentication method that consists solely of numbers. PINs are usually associated with credit cards.
• Answers to security questions are complex sentences that sometimes include an entire sentence.

Possession-based methods

The possession factor requires an account or service owner to provide ownership of a particular device or item to gain access to an account or service. They include:

• A physical token device: a small device similar to a USB stick that you own. It usually contains a one-time login session OTP which the user enters to verify their identity. Tokens can also be connected to a computer via USB to generate the OTP needed for login.
• Software-generated token: A remote server produces this type of token and then sends it to the user via SMS or email. The service that manages your account usually produces software tokens. Smartphone apps can also generate software tokens required for verifying identity information.

Inherence-based methods

Inherence factors are a newer technological and security approach to account or service verification, which requires you to provide a unique feature only you have, like:

• Fingerprint verification: fingerprints are unique to every human. A strong inheritance method adds another layer of security to critical and vulnerable accounts. Innovators included various technologies to detect and sample a fingerprint.
• Facial recognition: The second most widely used identity verification method is facial recognition. It is not as secure as fingerprint verification, as people may use a photo of you, for example, to gain access to their account or service.

The multi-factor authentication process explained

The multi-factor authentication process has two or more stages, depending on how many of the above-mentioned methods it includes. For example, you enter your username and password to log into your account. 

This can trigger security mechanisms to require a second and a third authentication method from you in a certain sequence. Then, the software sends an OTP to you via email or mobile device, or you may need to answer a security question. 

An additional fingerprint scan completes the authentication process; the more layers of authentication, the less risk of data breaches.

How effective is multi-factor authentication?

Multi-factor authentication is a highly effective security process that blocks over 99% of unauthorized attacks. Third-party users that want access to an account have a hard time beating all the extra layers of security and gaining access to sensitive data.

The more authentication factors there are, the better. You can rest assured that you will gain secure access to your accounts whenever you request login.

Other Types of MFA

MFA uses two other methods, but they are rarer, such as:

Location-based methods

This authentication method uses the user’s location via GPS or IP address. Since many users have smartphones allowing for mobile sign-ins to accounts, location-based authentication is becoming increasingly popular.

Time-based methods 

This method tracks the time you log into an account. If you log in to your account at a specific time and location and then try to check in several minutes later, but from a distant location, it will send a breach warning. 

Although it sounds like a practical way to track activity, time-based logins are unnecessary and are rarely used in practice.

Difference Between MFA and 2FA

You can think of 2FA (two-factor authentication) as a part of MFA. Not all two-factor authentication is multifactor authentication and vice versa.

Two-factor authentication uses only two security methods to give the user access to their account. However, it can sometimes prove to be more secure than MFA. But why?

It all depends on the authentication methods the user chooses for the MFA. If they are weaker, for example, a password, followed by an OTP and a PIN. This would be considered a weaker alternative to 2FA using a password and a fingerprint for authorization.

In other words, diversifying the factor categories and choosing different methods for securing an account is better when using MFA.

Advantages and Disadvantages of MFA

Based on all we’ve discussed, let’s quickly compare the pros and cons of multi-factor authentication.

The advantages

• Easy to use and implement: MFA is a flexible way of securing any account, allowing you to choose and combine any methods you see fit.
• Effective defense against attacks: MFA provides a highly effective and secure way to secure your accounts and data. 
• Increases trust and security feedback from companies: MFA gives you a sense of trust when you see that a company employs multiple verification methods to secure an account. It also allows companies to react and inform you of unauthorized access when someone tries to access your account.

The disadvantages

• It may lock you out of your account: if you accidentally forget a security question or don’t have your smartphone on you to read an OTP sent via SMS, you can easily get locked out of your account.
• It takes longer to access an account: using MFA is more secure, but it takes more time to access your account. This type of security is simply not worth it if you don’t have valuable information to protect.
• It is an expensive option for companies and businesses to implement: companies and businesses often turn to third parties to implement MFA. When adding these features to their system, they must calculate the extra cost of MFA solutions.

What is Adaptive Multi-Factor Authentication?

Adaptive MFA, also called risk-based authentication, is an AI-operated authentication process that involves machine learning.

Adaptive authentication uses AI to scan for multiple user behavioral factors like location, time of access, IP address, the device used, verification method, etc.

Scanning for all these factors, the AI analyzes for suspicious user behavior and, if uncertain of something, prompts an additional verification method.

However, the user experience is simplified with adaptive authentication, as you only need to enter your username and password to gain access to your account. The additional verification factors “run in the background”, and AI prompts them when it detects suspicious activity.

Why is MFA Important?

MFA is a valuable technology that benefits both users and companies. As cyber security is becoming an increasingly popular topic, so are MFA methods gaining more and more traction with millions of users. 

Users today are constantly connected to their smartphones and computers, and one single account can contain all your passwords and data across all those devices. 

This is where MFA comes into action, providing strong and stable security against potential cyberattacks. Companies should also tend to implement MFA protocols into their operations for two reasons. 

First, they will provide their users with increased trust and security when they know that all their data will be safe. 

Second, it is a better practice for any company to have its data and sensitive information secure, locked, and protected against cyberattacks from hackers. 

It costs a lot less for a company to implement MFA protocols than it does to repair the damage from a potential cyberattack.