Security News > 2021 > April > MFA spending on the rise, but organizations still unclear on best practices

While MFA adoption and spending is on the rise, organizations are still unclear on best practices and methodologies, Yubico and 451 Research reveal.

The findings show that MFA adoption and spending has increased within the enterprise due to a confluence of several factors: the growing recognition that stolen credentials and phishing attacks are at the root of most security breaches; the rise of work-from-home policies due to the COVID-19 pandemic; and the adoption of modern authentication standards such as Fast Identity Online U2F, FIDO2 and WebAuthn that underpin new advances in two-factor and passwordless authentication.

MFA spending trends are encouraging with 74% of four respondents planning to increase spending on MFA. It was the top security technology to be adopted due to COVID-19 and the subsequent migration to WFH. MFA adoption as a response to breaches.

User experience, complexity, and cost are still the main obstacles to MFA adoption, which comes as no surprise.

These challenges have long been common complaints about MFA, even though modern authentication technologies such as biometrics and security keys have been proven to provide better security and usability than legacy MFA technologies.

Despite the increase in security vulnerabilities for mobile and SMS-based MFA, mobile OTP authenticators, mobile push-based MFA, and SMS-based MFA are among the most popular MFA form factors other than passwords.

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