Companies look to a future without passwords

Nearly three-quarters of infosec professionals think companies will stop using passwords to authenticate accounts by 2025.

A report by Telesign reveals security professionals are losing trust in passwords as an effective means of authenticating users. Alternatives are becoming steadily more popular.

The survey of 600 consumer account authentication professionals in US companies with 100 or more employees, found that 69 per cent of companies say that usernames and passwords alone no longer provide sufficient security.

The study also asked security experts about account takeover (ATO), which is a major concern to card-not-present merchants.  Nearly eight-in-ten (79 per cent) of respondents said they were “extremely" or "very" concerned about ATO.

The study found that 85 per cent of companies are likely to roll out two-factor authentication within the year or already have it in place.