What is IDaaS? This acronym stands for the “identity as a service”, which refers to the identity and access management services offered by authID and other providers like LoginID in the cloud server. It allows organizations to verify user identity before granting access to files, software, and other resources they are permitted to use.
IDaaS collects intelligence and generates reports outlining the systems and information accessed by the user, allowing companies to monitor activities and audit trail purposes. This helps businesses reinforce fraud prevention measures and provide a better customer experience.
The use of multi-factor authentication (MFA) to verify a person’s identity is a core aspect of IDaaS. One of the primary benefits of multi-factor authentication is reducing the risk of unauthorized access. With MFA, companies require consumers to identify themselves through various verification steps based on three criteria: knowledge, possession, and inheritance.
Knowledge is something the individual knows, like a password, while possession is something the user possesses, such as a smartphone. Meanwhile, inheritance is something that the user only has, particularly biometric identity like retina or fingerprint. By combining two or all of these factors, businesses can confirm if the actual owner is responsible for the activity or not.
MFA serves as an alternative to the conventional username and passphrase authentication. In the past years, fraudsters have gone tech-savvy, enabling them to bypass password-based login procedures easily through various ways, like phishing attacks and credential stuffing.
With inheritance as one of the three MFA criteria, companies might consider integrating robust cloud-based biometric solutions to bolster fraud prevention measures. By investing in biometric identity verification infrastructures, organizations can give their consumers a more secure cloud environment. This is because fingerprint, retina, iris, facial, and other biometric features are unique to each person, so imitating them is difficult.
Aside from security, passwordless authentication enables faster and seamless login for users. Logging in comes with a quick retina or facial scan that only takes a couple of seconds. Such eliminates the chances of consumers hopping to another website or application with a less complicated login scheme.