John Epperson
Managing Principal, Financial Services, Crowe LLP
In recent years the understanding of what the most critical criteria of what makes a password most secure has transitioned from complexity of the password to the length of the password, or pass phrases. However, weak passwords continue to be a target of attackers and common vulnerability in attacks...
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Viewpoints from Crowe
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Viewpoints from Crowe
In recent years the understanding of what the most critical criteria of what makes a password most
secure has transitioned from complexity of the password to the length of the password, or pass phrases. However, weak passwords continue to be a target of attackers and common vulnerability in attacks.
The criticality of password security, specifically the use of multi-factor authentication (MFA), has become more of a focus as organizations have supported a more robust remote working capability during the pandemic. Additionally, insurance companies have started demanding organizations have MFA as a requirement of cybersecurity coverage. Most organizations focus on MFA though smartphone notifications or one-time passcodes (OTP).
Adoption of security controls is always more successful when the impact on users is minimized. Lower-friction authe ntication solutions help achieve this goal of increasing security without increasing complexity. Innovations in authentication security will continue to push the boundaries of secure authentication, further reducing friction without sacrificing security.
In addition, these innovations will help with the success of zero-trust infrastructures. Organizations leveraging behavioral biometrics report fewer breaches. Leveraging frictionless solutions will help seamlessly authenticate a user when accessing organizational resources, establishing trust at the time resources are being requested.
The frequency and impact of data security incidents will continue to grow until organizations adopt more advanced security controls. Innovation within authentication solutions will be imperative to support future security programs that are resilient in the face of ever-evolving threats.
The delta between the winners and losers of tomorrow is widening. And much of that gap represents how leaders are viewing and acting on the upside and opportunity associated with change. Crisis and volatility are far too often looked at with an internal “what does it mean for me” mentality instead of viewing volatility, crisis, and world events through the eyes and needs of your customers. That shifting viewpoint can create enormous opportunity as well as customer confidence and trust—where those traits can be hard to come by in financial services.
National Head of Private Clients, Crowe UK
John Epperson