Passwords and other knowledge-based authentication factors have become easily compromised through data breaches, account takeover and phishing schemes, and shoddy passwords. Market providers have developed phishing-resistant MFA solutions, but adoption remains slow within financial services (FS). As the cost of data breaches and ransomware attacks continues to grow, financial institutions, insurers, and other FS firms must investigate the next generation of MFA options that deliver higher security assurance and resilience for their most sensitive enterprise functions.

This report investigates FS CISO appetite and considerations for how the corporate workforce can use next-generation MFA solutions, especially as mapped to the top cyber risks that CISOs face for their corporate business. It draws from a Datos Insights research study, commissioned by Token, of 18 FS CISOs and workforce MFA leaders across the U.S. The report’s findings and recommendations inform the security and practical culture of the modern FS digital workforce.

Clients of Datos Insights’ Cybersecurity service can download this report.

This report mentions Token.