Whether your helming a new Bay Area start-up or a C-level executive in a large corporation, there’s one thing you need to understand about your customers in 2015…
They’re extremely concerned about the security and privacy of their information.
This especially rings true if you’re in the growing app and SaaS market. In the past year, more vendors have been hacked, with millions of customers losing their log-in data, financial details, and personal information. From Amazon and Google to Target and beyond, more customers are beginning to be wary about the security measures that companies are taking to protect their data.
No matter what the size or the scale of your business, this definitely impacts the way you run your business. If you even store a single personal detail, you need to find a way to ensure that your customers are protected.
Not only does this give your customers the peace of mind that they need to keep doing business with you – it’s also a big deal for your company’s bottom line.
So what’s the best way to ensure your customers’ information remains safe and sound? It’s simple: use two-factor authentication. Here are some great two-factor authentication examples we have come across in the wild.
Let’s say that you’re trying to log into an app from a computer that you’ve never used before. You enter your email address, your password, and sit back as the app loads your details. Suddenly, a pop-up message appears – the app doesn’t recognize the computer you’re logging in from, so it needs to authenticate your details.
To verify that it’s actually you, the app sends a text message to your smartphone, which contains an eight-digit code. The app then prompts you to enter the code to verify your identity. As soon as you enter the code from the text message, the app makes a note of your new device and logs you right into your dashboard.
This is a common example of how two-factor authentication can be used to protect your information. Two-factor authentication essentially uses two steps to ensure that you’re who you say you are. Some apps require you to enter your password and a code that’s been texted to you, like in the above example; other two-factor authentication steps require you to call in to verify your identity.
If you’re asked to prove yourself via two-factor authentication, it might be a little annoying – but trust us, it’s better than the alternative. It’s one of the smartest ways to ensure that your identity remains safe and sound. After all, someone who is trying to log into your account might have your password but may not have the smartphone where the second step of authentication needs to take place.
It’s certainly worth the minute of inconvenience, isn’t it?
You might not think that this extra layer of security is necessary for your start-up business – but trust us, you need it more than you think. Let’s take a look at six different companies that have some great two-factor authentication examples for you to consider:
You know we have to start with the head honchos of two-step authentication. Since your Google account password can be used to access all of Google, two-step authentication is often used at different times to ensure you’re actually who you say you are. If you log into your account using a computer or device that Google doesn’t recognize, the service will send a text message to the phone on your account. When prompted, you’ll need to enter the code into the sign-in page. Without the code, Google will keep your account on lockdown until you verify it.
This communication start-up uses instant messaging that’s designed for specific groups, like a department within a company or contractors working together on a project. If you get your password wrong on your account, Campfire will send an SMS message to your phone number asking you to change your password. This helps protect sensitive workplace information should an external person try to hack your Campfire account.
Worried that someone will log into your Youtube account and delete all your awesome cat videos? Not to worry – Youtube is a powerhouse example of two-factor authentication. If your account shows suspicious activity, Youtube can send a text message or call you for authentication, depending on your preferences.
This online hosting/VPS service is often used to store vital company information – so if your company’s account shows suspicious activity, they’ll immediately send an SMS message to the administrator of the account. If the code in the text message isn’t used to verify the account, Rackspace will place a security hold until further verification.
This online payment system is used to store financial and personal information, so you better believe they use two-factor authentication processes! If someone else tries to log into your Paypal account, this service will immediately send you a text message asking to verify the account activity. If you don’t authenticate the account, Paypal will place a security hold on your account until additional authentication.
This new investing start-up uses a ton of financial and personal details, so it makes sense that they use two-factor authentication. If someone tries to hack into your MotifInvesting account, they’ll send you an SMS message and an email letting you know that there’s been odd activity in your account. That way, you can change the password to your account and ensure no one sees how truly awesome you are at investing.
Two-factor authentication isn’t just great for your customers; it’s great for you as well. When you use two-factor authentication, you’re essentially telling your customers that you take their security and privacy seriously. Customers truly value that in a company – and that can add up in terms of customer acquisition and retention numbers.
Whether you store personal details or sensitive financial information, you need two-factor authentication with your company; otherwise, you could end up taking serious heat should your company’s information ever be hacked.
Did you like these two-factor authentication examples? How do you use two-factor authentication in your business? Let us know in the comments!
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