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Safeguarding digital identities has become extremely important in the digital era. Unfortunately, many organizations still use traditional password-based authentication and access systems, which make identities vulnerable to theft and fraud.
However, enterprises have learned that password breaches are the main cause of data breaches. They are commonly linked to digital identities. According to a source, weak passwords are the most significant cause of 80% of data breaches.
Passwordless authentication through biometrics has become a savior in this regard for many reasons beyond safeguarding digital identities and minimizing the risk of identity theft or fraud. Uncovering the reasons would convince any organizations still using passwords to switch to biometrics.
4 Reasons Organizations Would Switch from Passwords to Biometrics
Scalable Passwordless Authentication
Contactless biometric authentication has become the new-age authentication and access medium. It can easily work through a smartphone or tablet camera and provide multimodal functionality options to enterprises, especially those with remote workers. Besides this, it can act as a medium for marking attendance without the need for secondary HR software.
Today, biometrics, as a passwordless medium, can even integrate with access control systems to provide seamless check-in and checkout at the premises. Biometrics integrated into HR software can also streamline visitor access management, a crucial part of every enterprise.
Minimizes Security Risks
Using biometrics to secure online or offline access makes accounts more secure than passwords. As mentioned above, weak passwords are the most significant reason for data breaches, but that’s not the only reason. The habit of using the same password for multiple accounts is another security concern.
On the other hand, using biometrics that are unique to an individual and challenging to replicate heightens security. Additionally, it reduces the chance of unauthorized access, especially at terminal checkpoints, as it requires the user’s physical presence.
Besides this, if biometrics integrate with an IP camera, it can assist in identifying on-premise employees and even segregate unidentified individuals, making the job of the security personnel even easier and tightening security.
Diminishes the Chance of Identity Theft or Fraud
Digital identity theft and fraud have become a fearsome concern across global organizations. In 2022, India ranked at the top of the list of identity theft cases, with approximately 27.2 million victims.
Identity theft isn’t limited to data breaches. In fact, it escalates to using false identities to cross borders and puts an individual at a high-security risk. Moreover, fake identities can also lead to financial loss, a common malpractice by criminals.
Another risk is using the digital identity to open and operate accounts that finance terrorism or other criminal activities. Using contactless biometric technology as a digital identity makes the individual more secure against such threats.
Reduces Overhead & Maintenance Costs
According to a 2020 Deloitte report, the average security spend, including password reset costs, was $2,700 per employee and escalated to $4,375. Another article stated that employees lose 11 hours resetting passwords, which is a high loss of productivity. On the other hand, biometrics don’t come with the hassle of resetting.
Integrating biometric technology into the system reduces the IT overhead costs incurred through password reset requests. Moreover, it doesn’t require high maintenance or incur high costs. In fact, biometrics can work with a regular smartphone or tablet.
The use of biometrics as passwordless authentication makes the job easier for the security and the IT department. Today, biometric software or apps can streamline operations while enhancing security and user convenience, further reducing the requirement for specialized hardware to function.
Conclusion
Biometrics will definitely replace passwords completely in the near future because of the significant advantages they provide. Contactless biometrics can’t be copied or replicated easily, enhancing security. Additionally, they don’t require the user to memorize passwords for access.
Moreover, biometrics reduce IT overhead costs by eliminating the need for raising password reset requests, which is tremendously expensive for enterprises using passwords. Today, enterprises use passwords, PINs, or OTPs as part of their access control systems to check in and check out. However, they come with significant drawbacks.
Biometrics overcome the drawbacks of these traditional mediums. Moreover, they make digital identities more secure and minimize the risk of them being misused for border crossings, draining online accounts, or other criminal activities. Therefore, biometrics have become the new-age medium of passwordless authentication, which can provide higher options of scalability, security, and convenience and minimize organizational costs.