The Value of Network Authentication for Enterprises
As we stated in our last blog post, the fraud landscape is constantly evolving with the increasing sophistication of criminals. This presents ongoing challenges for enterprises to protect their business and customers from nefarious actors.
Tides of Change
Around the world, there is a notable shift happening in how security and authentication are approached. Two-factor authentication has been a leading option to protect accounts for many years. It provides an extra layer of security by requiring users to provide two different forms of identification. This is often a password and a code (OTP or one-time password) sent to a user’s mobile device or email (shudder again!).
While effective for a long time, the tides are changing, and a wave of innovation in authentication is developing to keep pace with evolving threats. This is driven by the need to combat increasingly sophisticated fraud and deliver a more seamless user experience. In some areas of the world, financial institutions are encouraged to eliminate weak authentication methods, including SMS and email one-time passwords.
Security & Authentication
Network authentication via telco APIs becomes increasingly valuable as security and authentication methods change. It provides a more secure means of authentication by verifying user identity through their mobile network. This helps protect accounts from unauthorized access and evolving fraud techniques, safeguarding brands and their reputations in today’s digital world.
Network authentication is a foundational element of mobile operations, acting as a crucial barrier to verifying the identity of users and devices and preventing unauthorized access to a carrier network. Preventing unauthorized access reduces the attack surface and makes it more difficult for cybercriminals to exploit vulnerabilities.
In the interest of fraud prevention, most global regulations allow carriers to expose access to specific network elements for authentication to 3rd party enterprise applications, often with a simple update to privacy language and without explicit user consent.
The key here is that access to the information must be secure and not expose any PII (personally identifiable information).
Value Beyond Security
Strengthening authentication practices is crucial for brands to ensure robust security and fraud prevention, and demonstrating a strong commitment to user data protection. It's not just about keeping the bad guys out and stopping fraud; it's also about showing customers you care about their data. When people know you're serious about protecting their info, they're more likely to trust you and feel good about sharing things online.
Let’s also discuss account access. Logins should be smooth and easy. Network authentication helps make that happen, providing seamless verification without requiring users to enter PINs or OTPs. Seriously, who has time for clunky logins and OTPs these days when everyone expects things to work instantly? Reducing friction is key to keeping people happy.
So what are you waiting for?
Still on the fence about Network authentication? It's a must-have for any brand wanting to keep things safe—think assets, customer info, the whole shebang. It's your primary defense against fraud; honestly, it makes your customers feel they can trust you. That trust? It builds loyalty. It's a win-win for your brand's good name and keeping people happy.
To learn more about how you can access this powerful data for your fraud prevention practices, fill out our contact form, email info@shush.pw, or message us on LinkedIn.