Various methods under two-factor authentication have made noteworthy strides, out of band authentication being one of them. The method has risen to popularity notably in e-commerce circles and consumer markets. One of the reasons why it has gained considerable traction is the increasing difficulty for attackers to simultaneously dupe two communications—the channels kept entirely separate from each other. Rapidly rising digital payments modes, in the wake of growing number of authentication-related frauds, is a key factor bolstering the demand for more secure out of band authentication (OOBA) methods.
Get Sample Copy of this Report @
SMS-based out-of-band techniques have attracted substantial scrutiny given the vulnerabilities they share. However, their easy-to-deploy nature and them scoring high on scalability, experts believe, will never let this out of band authentication method go out of fashion. Rather, industry players are increasingly focused on strengthening authentication credentials and plugging loopholes. Contextual risk-based analysis will show a way out.
Securing Messaging Platforms against Man-in-the-middle Attacks a Hard Nut to Crack
The need for setting a secure end-to-end channel has given rise to man-in-the-middle attacks as a key challenge for online channels deploying any one of the out of band authentication methods. The growing tenacity of threats of man-in-the-middle attacks for messaging platforms is a prominent case in point. User-to-user messaging traditionally and group messaging have increasingly become vulnerable to these attacks, thereby opening exciting dynamics in the global out of band authentication market. The growing popularity of instant messaging platforms, WhatsApp, has create fertile ground for new promising avenues in the market.
Read Comprehensive Overview of Report @
Research into developing a powerful out-of-band channel for out of band authentication have for the past several years haven’t been much successful in finding realistic approaches. This underpins a new gap to bridge for players in the global out of band authentication market. Further, growing adoption of connected devices will propel the demand for robust out of band authentication methods in consumer market, thereby opening new avenues in the near future.