Unlocking the Mobile Security Potential:<br> The Key to Effective Two-Factor Authentication
With cybercrime techniques outpacing security solutions, knowing how to protect customer data is critical. The emerging verification method of choice is SMS-based two-factor authentication (2FA) due to its user-friendliness, cost effectiveness, and high level of security. New global research by the Ponemon Institute, sponsored by tyntec, reveals that 90% of global IT managers say their organizations plan or consider to adopt One-Time Passwords (OTPs) in 2014 to improve online security.
However, the same study also found that on average 11-20% of these passwords aren’t being delivered to the intended mobile phone. On average almost 50% of OTPs fail to arrive due to invalid mobile numbers provided by end-users. This whitepaper explores how organizations can improve customer satisfaction, reduce customer support costs, and achieve higher conversion rates.