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What is Dual Authentication for Financial Transactions?

Dual authentication is one of the most underutilized security measures when completing financial transactions. Have you ever been in a situation where you input a username and password, and then are prompted to look in your email or text messages to find a one-time access code? This is dual authentication. It protects users from having their accounts hacked by someone simply guessing or finding out what their username and password is. Your managed service provider can provide you with more information about the process, but here is some basic information to consider as well.

More Security Than Just A Username and Password

Some people find dual authentication to be a hassle because there’s an additional step to access your information rather than simply inputting a username and password. However, think about the added layer of security to your most sensitive, and possibly most important, information. Simply having this extra security layer is something every managed service provider recommends, especially for financial transactions. You can never be too secure with your finances, and you definitely don’t want to deal with the hassle of recouping your money if a fraudulent transaction occurs.

Why Dual Authentication is Important

Your company may have implemented a cloud computing solution for various reasons. Most of the time, security is at the forefront of every decision made as a business executive. Dual authentication is important to prevent your account from getting hacked, but banks today are notorious for not offering the service. If you don’t have a dual authentication process in place for financial transactions, fraudulent activities are much more likely.

Protect Your Financial Information

Your finances are some of your most important assets, so you owe it to yourself to protect your financial information as much as possible. Check with a managed service provider to evaluate your current IT security and ask for recommendations on how to make it more secure. You may be surprised at how simple the process could be for greatly enhancing your security. Dual authentication is almost always a recommended security measure. The additional step in the login process is well worth the added layer of protection.

Single Point of Contact offers a wide array of IT services, include cloud computing IT solutions, remote assistance and repair, IT consulting and much more. Dual authentication is only going to become more common as data breaches increase. Be sure to contact us to see how we can help your company protect its financial information, as well as many other aspects of your business.

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