July 5, 2016
Seventy-two percent of security professionals said their companies will no longer be using passwords to authenticate accounts by 2025, according to a new report from TeleSign. The report, Beyond the Password: The Future of Account Security , highlighted the diminishing faith security professionals have in passwords as an effective authentication technique and pointed to alternatives that are gaining more prominence.
“The vast majority of security professionals no longer trust the password to do its job,” said Ryan Disraeli, co-founder of TeleSign. “Thankfully, most companies aren’t resigning themselves or their users to password-only account security. They are implementing two-factor authentication in droves and newer technologies such as behavioral biometrics are emerging to address many of the concerns developers have around adding new tech to their applications.”
The report also asked security experts about account takeover (ATO), which card-not-present merchants have identified as a pernicious problem in recent years. Seventy-nine percent of survey respondents said they were “extremely” or “very” concerned about ATO. To battle the problem, 85 percent of those polled said they either already use two-factor authentication or will be implementing it within the next 12 months. Behavioral biometrics is less common. Fifty-four percent of security professionals said they plan to implement the technology “in 2016 or later.”