Next-Generation MFA: Security Assurance for the Modern Enterprise

Legacy MFA solutions fall dramatically short in protecting corporate enterprises in the financial services sector from the sophisticated cyberattacks of today - we see proof of this daily in the news. 

About the Research:

In today’s cybersecurity landscape, traditional password-based and knowledge-based authentication methods are increasingly vulnerable, falling victim to data breaches, account takeovers, phishing operations, and weak passwords. Despite the availability of phishing-resistant multifactor authentication (MFA) technologies, their uptake within the financial services sector remains slow.

With the financial and reputational repercussions of data breaches and ransomware attacks on the rise, it's imperative for banks, insurance companies, and other financial services organizations to explore and adopt the latest advancements in MFA technology - Next-Generation MFA. These solutions offer enhanced security and resilience, protecting the most critical operations of these enterprises.

Report Overview:

This report delves into the readiness and strategic considerations of FS CISOs towards adopting next-generation MFA technologies within their teams, particularly in response to the most pressing cybersecurity threats their organizations face. Based on a comprehensive Datos Insights research study, authorized by Token, and incorporating insights from leading FS CISOs and MFA experts nationwide, the report sheds light on how these advancements can shape the security framework and operational culture of today's financial services digital workforce.

Example Key Insights:

• Phishing attacks against workforce users, supply chain attacks from 3rd parties, and ransomware attacks were identified as the top enterprise cyber risks for the CISO.
• CISOs most need to improve risk management for system administrators despite having privileged access management (PAM) solutions.
• Senior executives at many FS firms lack robust security solutions aligned with their functions and business risk.

Download the full report to explore:

• What kinds of MFA options deliver even higher security assurance and resiliency for the business while improving user experiences?
• Where do we go beyond phishing-resistant MFA for our most business-sensitive enterprise functions?