Whether you run an online business or are one of the many million users of the World Wide Web, the time to bid farewell to the single step authentication system has well and truly arrived. For those who're not as cued in, single step authentication refers to a verification system that requires a username and password for accessing web accounts.

The system has been around for a long time and many believe it is no longer secure given the current online environment where hackers are becoming more refined, vicious and aggressive. They also get plenty of help from malicious software that can seriously jeopardize the integrity of your online accounts.

The single step authentication system is laden with many risks. First, the entire onus of securing their accounts is on the users. They're responsible for ensuring they use strong passwords and taking precautionary measures to avoid the risk of password theft.

Are We Really Safe Online?

Just think about it - how many of us do our due diligence when using a username-password security system? Haven't we all, at some point or another, kept the same password for multiple accounts because it's easier to manage or used public computers to access sensitive info?

There are many other risks associated with single step authentication system, but the biggest risk is that it creates a fall sense of security and prevents us from taking actions that eliminate or greatly reduce the threat of account compromise and identity theft.

As for organizations that still use single-step authentication system, they're putting themselves at a greater risk of data theft and massive revenue losses due to online fraud.

2FA - The Mantra for Online Security

So, would you rather live in the fear of being a victim of online fraud or do everything in your power and technologically possible to make sure your password are not stolen from you; your accounts are not compromised; you are not robbed of your identity; and you don't lose copious amounts of money because you didn't have a stronger security system in place.

A simple, yet effective solution for tighter online security is to turn on two factor authentication or 2FA as it is commonly known.

Two factor authentication is an enhanced online security system that requires the user to present two out of three authentication factors: knowledge (something they know such as password), possession (something that have such as a physical token or phone), and inherence (something they are such as biometric prints).

Why 2FA is better than single step verification system is not very hard to understand. It adds that extra critical layer of security that goes beyond username and password. Since 2 factor authentication requires two verification factors to be present simultaneously, it makes it harder for an unauthorized person to gain access to an account.

2FA Systems - Many Choices

There are many two-factor authentication systems that can be used for enhanced online security. Some make use of hardware tokens, while others require downloading mobile apps or receiving one time passwords via text messaging or automated calls.

Of these all, the simplest and the most cost-effective, not to mention the most user friendly solution, is perhaps SMS or call-based phone verification system.

For businesses, such a system amounts to lower operational costs as there is no additional hardware or software required nor any need for an extensive support system. For people like you and me, it means ease of use as we don't have to download any software or carry around a physical token with us all the time.

Who needs two-factor authentication? Well, our guess is everyone who has ever used and wants to keep using the Internet without seriously risking their online health!