It has long been a concern that passwords represent a weakness in an organisation’s digital security strategy, and yet they are still being widely used in businesses of all sizes. However, driven by an increase in flexible working and the need for system access at any time from any location, a passwordless approach to identity and access management (IAM) is now gaining some real traction in the marketplace.
Indeed, Gartner predicts that by 2022, 60% of large and global enterprises, and 90% of midsize enterprises, will implement passwordless methods in more than 50% of use cases. This figure was just 5% back in 2018. This illustrates the strong desire across industry for a change in how access is granted, and a need to update this process, moving away from username and password once and for all.
Passwordless authentication, by its nature, eliminates the problems associated with the use of weak passwords. It also offers benefits to users and organisations. For users, it removes the need to remember or type passwords, leading to a better user and customer experience. For organisations, there is no longer a need to store passwords, leading to better security, fewer breaches and lower support costs.