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2-Factor Authentication

Traditional authentication schemes use a combination of login and password pairs to authenticate users, which provides just the minimum security for end-users. 2-factor authentication procedures enhance security in transactions by providing dynamic passwords such as one-time passwords (OTP) and mTANs through a token device or "virtually" via SMS. 2-factor, strong authentication can better safeguard assets and confidential information, as well as combating online fraud and protecting sensitive data.

SMS is gaining market share in the 2-factor authentication market, because it is an easy-to-use technology, ubiquitous and a token-free service. This also means that the cost of ownership is low for companies implementing such solution.

In the banking and financial industry, dynamic passwords and mTANs enable consumers to authenticate banking transactions. OTPs offer strong authentication procedures that combat online fraud, building consumer trust in using online and mobile banking interfaces. For enterprises, implementing mobile passwords mean that staff can access applications, systems and confidential information according to their user rights. This gives companies the peace of mind that passwords are verified accordingly and thus that information is only accessed by the right people.