In the digital world, where online businesses thrive, verifying users’ identities is more important than ever. Knowledge-based authentication (KBA) protects online businesses from cyber threats and identity fraud by verifying user information.
In the online era, where passwords alone stand as feeble barriers, KBA helps protect online businesses in verifying users’ identity and ensuring authorized access. Examples of KBA include answering security questions about personal details or giving other specific information about user’s account.
Here, we will discuss the importance, uses and purpose of KBA authentication in various industries along with its pros and cons.
What is Knowledge-based Authentication?
Knowledge-based authentication is a security method used by online businesses to verify a person's identity. This security measure authenticates their identity before allowing access to accounts or services.
KBA involves asking personal questions and getting answers which only the user would know. For instance, KBA can include questions about secret phrases, a relative's name, schools attended, etc.
KBA questions can be static or dynamic in nature. When the user answers the secret questions correctly, this method successfully confirms their identity.
Businesses which require a high level of identity verification and security measures mainly use KBA authentication.
KBA verification questions should meet the following criteria:
- Is relevant and identifiable to several users
- Is easy to remember
- Has one correct answer
- Is hard to guess or not easy to discover, even through research
Types of Knowledge-based Authentication:
Let's discuss three types of knowledge-based authentication (along with some examples) that help protect the digital online world.
1. Static KBA
Static KBA involves selecting a set of pre-determined questions that users can choose during the authentication process. These questions are personal and don't change over time. Several authentication protocols use this method as an additional verification in addition to a username and password.
Examples:
- What is the name of your childhood best friend?
- Which city were you born in?
- Who is your favorite author?
This authentication method asks similar questions during the onboarding process. When users access the account, the system requires them to answer the questions.
2. Dynamic KBA
Dynamic KBA asks questions about recent activities, personal data, or information from public records or social media profiles. It uses algorithms to select relevant and personalized questions only users will know. The answers to questions asked in this method help verify the user's identity. Dynamic KBA considers a more secure protocol because the information is not readily available publicly.
Examples:
- What was the name of your elementary school?
- Enter the last 3 digits of your credit card number
- Which addresses have you lived at?
This authentication method requires data collection, which is then used to create potential questions.
3. Enhanced KBA
Enhanced KBA uses a combination of both static and dynamic information to deliver an extra layer of security. It includes advanced techniques to improve security and deals with the limitations of the conventional approach of authenticating users. This method is used by industries or in certain cases that require a high level of security.
Pros of Knowledge-Based Authentication
Here are some reasons why KBA is an effective method for user verification:
· Personal Information
Users are usually familiar with answering security questions or providing personal information. This makes KBA an easy and user-friendly method.
· Cost-effective
Implementing the KBA security measure is more affordable than other security methods as it doesn't need special hardware or biometric devices.
· User Accessibility
KBA is accessible to users without physical tokens or devices, making it easy for those without specific hardware
Cons of Knowledge-Based Authentication
Although KBA is effective, this method does have limitations. Here are some cons of knowledge-based authentication:
· Limited Security
KBA alone is not sufficient for high-security apps owing to easily predictable or discoverable information. Advanced phishing techniques and social engineering attacks can easily exploit the weaknesses in this method. You can find most of the information used in this method in public databases or social media profiles.
· Data Breaches
If a company experiences a data breach, the breach may compromise security questions, making them useless for affected users. A data breach can compromise personal data, making this method vulnerable to cyber-attacks.
· Poor User Experience
Another area for improvement with KBA is user experience. It can be difficult for some users to remember answers to security questions or other specific details. The set of security questions are sometimes limited and may only apply to certain people, making authentication process, more challenging.
Applications of Knowledge-Based Authentication
Knowledge-based authentication (KBA) finds widespread applications across various sectors because of its versatility and ease of implementation. Here are some key applications of KBA:
1. Financial Institutions
Banks, credit unions, financial institutions, and technology providers use KBA during account creation, password recovery, and other financial transactions. It confirms the customer’s identity for online banking and high-value transactions.
2. Healthcare Organizations
Healthcare providers use KBA to verify patients' identities, safeguard medical records, and secure access to patient portals. It helps them stay compliant with data protection regulations. It helps protect patients' privacy and prevents unauthorized access to sensitive medical information.
3. Age-Restricted Commerce
Sellers of age-restricted merchandise, which may include alcohol, weapons, gambling, tobacco, and adult content, use KBA. It helps them verify the customer's age before allowing them access to age-restricted products. They often combine KBA with other verification methods to improve the accuracy level.
4. Insurance Companies
Insurance companies use KBA to confirm policyholders' identity, prevent frauds, and ensure accurate processing of insurance claims. It helps them safeguard sensitive insurance data and avoid fraudulent claims. KBA helps create an extra layer of security while logging into online insurance accounts and prevents changing insurance policies.
5. Ecommerce
E-commerce businesses rely on KBA to prevent fraud, protect against account takeovers, and secure online transactions. These businesses are subject to regulatory requirements, which makes it mandatory for them to implement robust security measures. KBA helps online businesses meet compliance standards and shows their commitment to user data protection.
Over to You
Different industries use KBA to safeguard online access to vital data and services. This proves its usefulness, significance, and efficiency. In this ever-evolving era of digital security, KBA plays an important role. Stay vigilant, stay informed, and embrace new and advanced authentication methods to ensure your business safety online.
Comments
0 comment