Passwordless authentication trending up as strong ROI case unveiled
A new study from Secret Double Octopus (SDO) and the Ponemon Institute has revealed the adoption of passwordless authentication is set to increase by 66 percent over the next two years. Also, Recorded Future has launched a new identity intelligence module for digital ID, and Okta has updated some of its solutions.
SDO and Ponemon release passwordless authentication report
The research focuses on understanding the state of workforce passwordless authentication, from motivational drivers to results after adoption, which include dramatic cost savings.
Its results suggest remote work has contributed substantially to the adoption of workforce passwordless authentication, and it will continue to do so in the next few years with 66 percent growth over the next two years alone.
“Enterprises continue to feel threatened in the pandemic with many feeling targeted, and this along with remote work and associated loss of productivity from password problems is driving increased adoption of passwordless technologies,” explained Dr. Larry Ponemon.
Additionally, 63 percent of respondents in the survey said they saw phishing as the number one password-based attack, but only 11 percent used passwordless for most or all use cases where users did not know or manage their account password.
“Going forward, organizations are extremely bullish on adopting passwordless authentication,” Dr. Ponemon added.
In terms of costs, the new data suggests that passwordless authentication saves the average organization $1.4 million in costs over conventional password-based authentication.
“Many organizations may feel they are doing the most expedient thing for securing their organizations by rolling out more conventional MFA,” said Horacio Zambrano, SDO’s CMO.
“But the data clearly shows there is an enormous amount of lost productivity per employee and financial risk by not removing the link between the password and the employee.”
To reach these goals, the report calls for better education about the cost and security implications of passwordless authentication, as well as the deployment of desktop MFA solutions as opposed to users adopting the same password for both their desktop and their workplace’s network domain.
Recorded Future launches Identity Intelligence Module
The new solution will be added to Recorded Future’s Intelligence Platform and will enable users to validate their digital identity.
The module features automated monitoring to rapidly find and remediate compromised identities before they can be used in an attack.
“Recorded Future intelligence provides critical awareness for us and our clients,” said Eric Ooi, Director of Security and Research at Iron Vine Security.
“The new Identity Intelligence module automates correlations and surfaces breach data that previously required significant processing to achieve. This real-time visibility into identity exposure enables us to better protect our clients and reduce risk.”
Advancements in Okta’s and Auth0’s CIAM offerings
Auth0 was acquired by Okta in May this year. The technology companies have added new features to their integrated Customer Identity and Access Management (CIAM) offering.
Unveiled at Okta’s annual Showcase event earlier this month, the new features include a Device Authorization Grant option, designed to simplify and secure the registration and access for end-users across devices.
“Identity sits at the core of all digital experiences and provides the security, agility, and usability needed to quickly adapt to any current or future challenge,” explained Okta CEO and co-founder Todd McKinnon.
Okta has also improved branding across login, error pages, and email templates, enabling developers to create and deploy their brand templates without adding custom code
Finally, Okta’s CIAM portfolio now includes a Custom Administrator Roles feature to enable the creation of granular roles for admins to manage their users, groups, and applications.
“Together, Okta and Auth0 deliver the most comprehensive approach to customer identity. We are investing in and supporting both platforms, and we are proud to empower our customers to choose with confidence,” McKinnon concluded.