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Use of Multi-Factor Authentication (MFA) Nearly Doubles Since 2020, New Okta Secure Sign-In Trends Reports Finds
Okta platform data-based study finds FastPass and WebAuthn offer far stronger security and faster, more reliable user experiences SAN FRANCISCO--(BUSINESS
About this update from Okta, Inc.
[{"type":"text","content":"\nOkta platform data-based study finds FastPass and WebAuthn offer far stronger security and faster, more reliable user experiences\n\n\n SAN FRANCISCO--(BUSINESS WIRE)--\nOkta, Inc. (NASDAQ: OKTA), the leading independent identity partner, today announced the release of its international Secure Sign-In Trends Report. The report, which analyzes billions of monthly workforce customer logins to Okta Workforce Identity Cloud across more than 16 industries around the world, reveals that the use of multi-factor authentication (MFA) has nearly doubled since 2020 and that phishing-resistant authenticators represent the best choice in terms of security and convenience for users.\n\n\n“Okta is advancing our customers’ zero trust security strategies by helping them adopt innovations like phishing-resistant MFA and passwordless,” said Todd McKinnon, co-founder and CEO of Okta. “By sharing data on our customers’ adoption of these critical technologies, we can drive greater progress with governments, our partners, and our customers.”\n\n\nThe top takeaways include:\n\n\n\n90% of Okta administrators and 64% of users signed in using MFA during the month of January 2023.\n\n\n\nSign-in methods that offer the highest phishing resistance (Okta FastPass and FIDO2 WebAuthn) also prove to offer the fastest, most reliable user experience.\n\n\n\nThe technology industry is best placed to move to a passwordless future, with 87% of account logins already using MFA. Insurance (77%), Professional Services (75%), Construction (74%), and Media & Communications (72%) round out the top five industry adopters. Surprisingly, highly regulated industries tend to lag behind.\n\n\n\nMFA adoption by Okta's workforce customers jumped from 35% to 50% in two months between February and March 2020.\n\n\n\nOrganizations with fewer than 300 employees (79%) exceed the MFA use of enterprises with more than 20,000 employees (54%).\n\n\n\nMFA adds an extra layer of security on top of credentials like passwords, which are highly susceptible to abuse. More than 80 percent of Business Web Application Attacks and nearly half of all business email compromise attacks result from stolen username and passwords. MFA provides greater certainty that a user is who they claim to be before granting access to an application or online account. MFA verifies identities by asking users to provi...