Increase E-Commerce Profits using Risk Based Authentication
Most websites use the combination of usernames and passwords. Both are items that a user knows. Asking “what street did I grow up on”, is just asking more things that a user knows, firms that do this are just implementing more KBA’s. Economics of Authentication To use some basic economics, the addition of the password as opposed to not requiring validation has a huge marginal benefit to the company. Implementing a second, and third and forth has an ever decreasing …
Understanding the Types of Authentication Authentication methods are usually grouped into a few different factors. 1. Ownership Factors Bank cards, security tokens, mobile phone. Physical objects which a user is required to be in possession of. The risks to these types of authentication are theft and cloning. 2. Knowledge Factors Something the user knows. A password, PIN or answer to a question such as “what is the first street you grew up on” 3. Inherent Factors These attempt to make