Best MFA Solutions for Data Security

Data security is now one of those critical aspects for any organization, enterprise, or company keeping in mind that we’re now in an era where data leakage or theft can have costly consequences. In fact, according to IBM the global average cost of a data breach reached $4.88 million in 2024!

Talking of data security, passwords are now one of those de-facto ways to secure and authenticate users but frankly, they aren’t enough! You need to add more layers of authentication that help ensure better data security. This is what MFA (Multi-Factor Authentication) is all about.

Well, this article will tell you more about Multi-Factor Authentication and the best MFA solutions you can go for to ramp up your data security.

1What is Multi-factor Authentication?

For starters, MFA (Multi-Factor Authentication) is simply a security access approach where users are only validated to access a network, device, account, or database by providing more than one type of credentials.

This could be a combination of passwords and biometrics or generated tokens among others. MFA aims to ensure that in case the primary access credential, often a password, is compromised, it becomes difficult for an attacker/unauthorized user to bypass the secondary access credentials.

Since MFA requires more than one level of authentication, it significantly limits unauthorized access and ensures better data security. It is worth noting that MFA is not limited to a combination of two access credentials.

In fact, the common two-factor identification is an example of multi-factor authentication. You could have more than two levels depending on your needs and the kind of system you want to protect its data.

2Types of Multi-factor Authentication

It’s worth noting that multi-factor authentication comes in various types and forms. One of the most common ones is Knowledge-based authentication which essentially relies on what the user knows (e.g., passwords, security questions) to add a layer of security before access is allowed.

Possession-based authentication is another common type which uses devices like phones or tokens for identity verification.

There is also what’s known as Inherence-based authentication that uses unique human traits, like fingerprints or facial recognition, offering strong security. Cloud-based MFA is another type that leverages apps like Google Authenticator to generate OTPs, though it requires proper protection.

Last but not least, there is Location-based MFA which is another common type that restricts access to certain systems or applications by only allowing authentication from predefined or trusted locations.

3The Top 6 MFA Solutions

Now, there are some nice MFA providers or rather, tools in the market to help you secure your business data from unauthorized access. Of course different MFA solutions have varied capabilities, and it is important to understand and choose the one that suits your needs. That said, here are our top 6 picks for the best MFA platforms you can explore:

1Okta

Okta is one of the best MFA solutions for mobile, cloud, plus it’s also one of the best on premise MFA solutions. Okta is particularly great if you’re an organization looking to safeguard your sensitive data and user identities against phishing attacks.

It secures access to applications and data from various attacks such as phishing using a risk-based approach based on factors like device, location, user behavior, IP address, and network.

This MFA platform is known to dynamically adjust its authentication requirements to provide the correct level of security while ensuring proper usability.

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2Cisco Duo

Cisco Duo is undoubtedly one of the most trusted and one of the top MFA solutions for all types of enterprises ranging from startups to large enterprises. It is best suited for businesses, IT teams, and remote workers looking for an easy-to-implement, flexible, and scalable multi-factor authentication solution.

This tool provides top-draw security features like phishing-resistant MFA using the FIDO2. It also supports a variety of authentication including biometrics, passcodes, and physical tokens.

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3Google Authenticator

Google Authenticator as the name suggests is an MFA solution designed by Google for authentication of accounts. This is one cloud based MFA tool that’s essentially a two-factor authentication service.

This is one versatile MFA tool suitable for a wide range of individuals and organizations looking to beef up security for their online accounts. For example, you could use the tool to add a layer of security to your personal apps like social media apps.

It leverages time-based OTP and HMAC-based one-time-password algorithms. This software-based authentication lets you verify multiple accounts from within the same app.

It is worth noting that Google Authenticator generates verification codes offline and hence network or cellular connection is not mandatory.

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4UserLock

UserLock is a powerful MFA tool for on premise MFA solutions. This tool integrates with YubiKey and works alongside Active Directory to deliver a secure authentication process.

It is particularly suited for IT teams looking for an easy-to-deploy and scalable MFA tool that’s focused on securing your network and improving user authentication processes.

With its contextual restrictions and real-time insights, users ensure there is appropriate use of critical systems and sensitive data without breaches or non-compliance.

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5IBM Security Verify

IBM Security Verify is another great MFA solution that leverages context and intelligence to decide who should access a device/account and what information they can access.

This tool is a great fit for organizations looking for robust identity verification and transaction security solutions, particularly those that prioritize ease of use and comprehensive, multi-layered authentication methods.

This MFA solution is suitable for applications and resources across various environments like cloud, on-premise, and hybrid.

Its ability to tackle hybrid access challenges without burdening the admin makes it suitable for customer platforms.

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6LastPass

LastPass is a popular yet effective MFA solution that offers a unified approach to managing authentication policies for online accounts, applications, and various system resources.

It is a great easy-to-use MFA solution, especially for businesses looking to enhance their online security. This MFA solution supports various authentications including contextual, hardware tokens, biometric verification, and mobile push notifications. Its real-time monitoring and security scores make it easier to manage authentication in real-time.

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4Considerations Before Choosing an MFA Solution

The choice of an MFA solution can make or break your data security experience. When choosing an MFA solution for your business, you ought to consider several important factors. Some of the factors you should consider when choosing an MFA solution for your business include:

1Use scenarios

The MFA use scenario is a major factor when choosing an MFA solution and you cannot afford to ignore it. Here, you should consider the platforms you use for MFA. For example, it could be the internal company systems, cloud services, or social media. These different platforms have unique MFA needs and can help you choose an MFA that fits the respective scenario.

2MFA type

Another important consideration is the MFA type you need. For example, you might need a one-time password (OTP), SMS or email verification code, biometric verification, and hardware tokens. Always choose an MFA type that best meets your needs.

3User groups

You cannot ignore the importance of the user groups when selecting the type of MFA for your business. You should ask yourself who your target users are. It could be the employees, customers, or partners. Whichever the target group, make sure you choose an MFA solution they are comfortable with while also effectively addressing data security vulnerabilities associated with these groups.

4Technical level

Perhaps different MFA tools are designed with different user interfaces and navigations. Some MFA solutions require IT experts while others are simple and can be seamlessly used by people with basic IT skills. First, assess the familiarity of your IT team to the MFA technical tools and find an MFA solution that allows your team to interact, and navigate with ease.

5Budget

The price of an MFA solution is key in your decision-making. It all goes down to how much money you are willing to invest in an MFA solution. While cheap solutions probably provide fewer capabilities, there is no need to break the bank to find the right MFA solution. By balancing the features you need with your budget, you can be sure to find a tool that addresses your needs within your budget.

5Conclusion

MFA solutions have proven useful in data security and are worth investing in irrespective of the size and type of business you are running. However, it is important to choose an MFA solution that works for you. Remember there is no one-size-fits-all MFA solution. Simply identify your needs and pick a MFA solution with features and capabilities to satisfy your needs. Once you know your data security is guaranteed, you can concentrate on the most important operations of your business.