What Are the Long-Term Benefits of Using Passkeys Over Traditional MFA Methods?#
Passkeys offer several advantages over traditional
multi-factor authentication (MFA) methods that
often involve passwords and OTPs. These benefits become increasingly significant over
time, providing better security, cost efficiency, and user experience.
1. Enhanced Security#
Phishing Resistance: Passkeys eliminate the risk of phishing
attacks by binding authentication to the service’s domain.
No Credential Sharing: Public-private key cryptography ensures no sensitive
credentials are transmitted or stored, making passkeys highly secure.
Reduced Account Takeovers: By removing vulnerabilities
like password reuse or SMS interception, passkeys significantly lower the risk of
account takeovers.
2. Cost Savings#
Reduced SMS Costs: Passkeys eliminate the reliance on expensive SMS OTPs, saving
enterprises up to 90% in operational authentication-related expenses.
Lower Support Costs: Fewer issues with account recovery reduce operational overhead
for customer support teams.
3. Improved User Experience#
Faster Logins: Users can authenticate with biometrics or a device PIN, avoiding the
delays of SMS OTPs or password input.
Seamless Recovery: Passkeys leverage cloud synchronization, making account recovery
straightforward and less stressful for users.
Passkeys align with modern cybersecurity regulations like
NIST and Essential Eight, ensuring compliance and reducing legal
risks.
Enterprises can future-proof their authentication
systems to meet evolving standards.
5. Scalability and Adaptability#
Passkeys are suitable for large-scale
deployments and can seamlessly adapt to changing technologies.
They integrate with WebAuthn standards, ensuring compatibility with future updates and
devices.
6. Customer Retention and Trust#
A secure and convenient authentication experience enhances customer satisfaction and
loyalty.
Offering passkeys can differentiate enterprises from competitors still relying on
outdated MFA methods.
A Better Future with Passkeys#
By transitioning to passkeys, enterprises gain a robust, cost-effective, and
user-friendly authentication
solution that scales with their needs and keeps up with the latest security standards.
Read the full article#
Read the full article
Learn how to implement passkeys as phishing-resistant MFA for large-scale consumer deployments and boost security as well as user convenience.