Multi-Factor Authentication (MFA) in the Context of Open Insurance: Relevance and Benefits

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Multi-Factor Authentication (MFA) in the Context of Open Insurance
In the Open Insurance scenario, multi-factor authentication (MFA) becomes essential to protect sensitive data and ensure secure transactions. The brazil mobile database of MFA – Multi-Factor Authentication , which combines two or more authentication factors, represents a necessary evolution in the culture of digital security.


Technological advancements require companies and users to adopt more robust measures to prevent fraud and unauthorized access. This article explores the importance of this practice in the Open Insurance ecosystem and how it contributes to data protection in an increasingly digital world.


The Evolution of Security and Shared Responsibility

In the past, malicious individuals used physical tools to access wealth in banks and safes. With the evolution of technology, these methods have given way to cyber tools, where knowledge in programming and social engineering is used to find vulnerabilities in computer systems and obtain valuable information, highlighting the need for more robust digital security mechanisms.


But it is important to note that security is not the sole responsibility of companies; users also play a crucial role. Adopting more stringent security measures may encounter cultural barriers or limitations for some users, such as the elderly and people with disabilities.


Many corporations already offer advanced security features, but choose to keep them optional due to users' resistance to adopting measures that involve additional effort at the time of authentication. Despite campaigns to encourage their users and customers to activate security tools, the vast majority end up not paying due attention and miss the opportunity to be increasingly secure.


Protect yourself. Adapt.

User authentication must be robust and reliable. Using multiple authentication factors, combining at least two of the three elements (something you know, something you have, and something you are), is essential to ensure the integrity and confidentiality of sensitive systems and data.


· Something you know (Knowledge Factor): Passwords and PINs.

· Something you have (Possession Factor): Security tokens, mobile devices, and smart cards.

· Something you are (Inherence Factor): Fingerprints and facial recognition.


Financial sector regulations, established by PSDs – Payment Services Directives such as PSD2 and PSD3 (under development), implemented by the Central Bank of Brazil in the context of Open Finance, require strong customer authentication (SCA – Strong Client Authentication ). This requirement is one of the objectives of PSD2, which establishes strict requirements for the security of electronic transactions, requiring at least two of the three authentication factors for all online transactions .


In this context, PSD3, currently under development, assesses the possibility of improvements to these measures, introducing biometrics and a possible relaxation of SCA, allowing, for example, the use of two authentication methods of the same type (for example: password + PIN) and introducing specific requirements to make SCA more accessible.