More MFA for Mid-Sized Organisations

 

2020 Cybersecurity Predictions – More MFA for Mid-Sized Organisations

Our expert team at Loop Secure have seen a delay in the uptake of MFA solutions in mid-market organisations across Australia in the last few years. However, in 2020 we see a shift in that view and we predict that multi-factor authentication (MFA) will become a standard security control for midmarket companies. Whether it’s due to billions of emails and passwords having leaked, or the implementation of compliance measures such as the Notifiable Data Breaches scheme, or just the sheer volume and velocity of database and password compromises mid-market Australian companies experience each year – we believe the Australian mid-market private sector has realised they are terrible at managing password security.

Additionally, historically MFA solutions were too cumbersome for midmarket organizations. However, recently there have been significant changes in MFA technology that make it easier to implement and end-users to adopt. These include SMS one-time password (OTP) and app-based models that are easy to deploy for SMBs. Cloud-only options are even now accessible for smaller digital native organisations and lastly, mobile phone have removed the expensive requirement of hardware tokens, which were cost-prohibitive for midmarket companies.

The ease of use both for the end user and the IT administrator managing these MFA tools will finally enable organizations of all sizes across Australia to recognize the security benefits of additional authentication factors. That’s why we believe enterprise-wide MFA will become a de facto standard among all midsized companies next year.

2020 Security Tips: Consider implementing MFA now, where you can, to stay ahead of the game. And don’t forget to train your users on what MFA is, how to use it, and how to get comfortable with various authentication methods.

Products like RSA’s SecurID can do this for you.

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