Multi-factor authentication (MFA) implies user and employee authentication by verifying, two or more authentication techniques (Hardware token, One Time Password, Password/PIN, and Biometric traits) provided by them. The use of more than one authentication factor significantly increases the security, thus reducing the chances of fake identity, fraud, and so on. This report covers various MFA technology model such as two-factor, three-factor, four-factor and five-factor authentication. Two factor authentications is the most commonly used model.
This report segregates the overall MFA technology market into various application areas such as government, travel and immigration, defense, banking and finance, healthcare, consumer electronics and commercial security. Increasing number of fraud, identity theft, security threats, unauthorized infiltration across the borders, illegal transaction at the ATMs, and so on, give a rise to the MFA technology market. One of the major drivers for this market is the use of multi modal authentication in banking and finance application. Some of the key companies in the MFA market are Gemalto N.V. (Netherlands), RSA (U.S.), 3M (U.S.), Cross Match Technologies (U.S.), Safran SA (France), Fujitsu Ltd (Japan), and NEC Corporation (Japan).
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