HID Global honored for its multi-factor authentication
HID Global has been recognized as one of the top ten providers of multi-factor authentication technology in the world by Enterprise Security Magazine, the company has announced.
According to security experts, multi-factor authentication is one of the most critical methods for protecting digital identities and online information, and preventing fraud from stolen usernames and passwords, the company says.
“When people think of multi-factor authentication, they now increasingly think of HID Global,” said Brad Jarvis, Vice President and Managing Director, IAM Solutions, HID Global. “Recognition of HID as a leader in the multi-factor authentication market underscores our commitment to securing digital identities and creating trusted digital and physical environments.”
The rise of multi-factor authentication is a direct response to the decrease in confidence people have accessing online accounts due to data breaches, HID Global says, citing Javelin Strategy & Research’s Identity Fraud Study, which showed identity fraud growing by 8 percent to affect 16.7 million U.S. consumers in 2018, and account takeovers tripling to reach total losses of $5.1 billion over the past year. Verizon’s 2017 Data Breach Investigations Report also showed that 81 percent of breaches involve stolen or weak passwords.
HID Global launched its multi-factor authentication app HID Approve in October.