SMS 2FA provides mass user validation. It increases account security, identifies mobile numbers in real time and is a cornerstone of metadata. It effectively binds an end user’s identity to the unique identity of their personal mobile phone number. Seen as Transactional SMS, this now popular validation routine requires the return of an automated authentication text pin back from your mobile phone in real time to provide a secondary user assurance.
SMS 2FA improves customer data security, relationship trust with your clients, and used constructively can streamline client metadata
Weak customer data security has the power to detrimentally impact your business as customers increasingly will lose their trust in your services. That’s why SMS 2FA is a good step to secure your customers’ information and facilitate the continued success of your business.
As the years go by, cyber threats are becoming more prominent and attackers are only finding more advanced and technical ways to get hold of customer data.
According to ForgeRock’s Consumer Identity Breach report, hackers obtained more than 2 billion usernames and passwords in 2022, increasing by 35% compared to the previous year. And if you don’t ensure the safety of your customer data, these breaches could seriously cost your business. On average, these cyber attacks amount to $9.5 million in damages, which significantly trumps the previous $8.2 million in 2021.
What Is SMS 2FA Verification?
The prime second factor in user identification has become SMS 2FA. The first is of course “User Name/Password” routines. However, there are many authentication methods available to support customer data security. These are typically based on various factors of an end user’s identity.
Here are the main three categories:
- Something you know: Sensitive information that only the individual would know, like PIN number.
- Something you have: Possession of a personal device that isn’t shared with other users, for example, a phone or laptop.
- Something you are: Biometrics that identify someone based on physical characteristics such as a fingerprint or face scan.
SMS 2FA is considered an ownership-based verification method as it relies on the user readily having their personal device. Verification is essentially the process of double-checking a user’s identity via SMS text message and holds many names, including:
- SMS authentication.
- Two factor authentication (2FA).
- Two step verification.
- Multi factor authentication (MFA).
SMS verification is a cornerstone critical “link” in Blockchain. The credentials of SMS verification done right validates end-users personal cell numbers. In the organization of metadata, using the unique identifier of a user’s identity allows relational databases to use personal cell numbers as a key linking field between tables.
How SMS 2FA Verification Works
SMS authentication is a very simple process that doesn’t require much activity from either the business or the customer. We’ve broken down how it works into four steps:
- An end user inputs their personal information to sign into their account with your business.
- This sign-in attempt triggers an automatic response, which sends a unique one-time password (OTP) to the user’s mobile number.
- The user proceeds to the next webpage that requests the SMS verification code and receives an SMS text with their unique code within seconds.
- The user then inputs the 6-digit number into the assigned text box and, if correct, gains access to their account.
The Benefits and Drawbacks of SMS 2FA Authentication
SMS verification offers many advantages for both your business and your customers, including:
Heightened Security
SMS authentication enables a heightened level of security that requires users to input codes received from their personal devices. To provide a more secure method of SMS security, you can also use time-based one-time passwords (TOTPs). This is the same process, but OTPs time out after a set amount of time to protect against interception.
Customer Accessibility
With over 4.6 billion smartphone users worldwide, per Statista, it’s safe to say that SMS provides an accessible way for customers to verify their login identity. It’s also a familiar authentication method and verification process, so your customers will be aware of and comfortable with the SMS message process.
Affordable Solution
While prices vary across different service providers, to this day, SMS remains one of the most affordable verification methods. Since a significant majority of consumers possess a mobile device, no additional hardware or software is required.
Better Company Image
Imperative SMS authentication demonstrates your brand’s commitment to promoting security and safeguarding consumer data. This reflects positively on your company as a business that cares about the privacy of its customers.
SMS is an excellent option, which has become a cornerstone of authentication, but it does have its drawbacks to consider.
Sim Swapping
Interception attacks and Sim card swapping pose a risk for secure SMS authentication. Malicious cyber threats can spoof cell phone tower signals and SS7 systems to gain access to sensitive information embedded in private messages. To protect against this, consider employing TOTPs to limit the access period.
Lost Devices
We’re all human, which means customers may lose their mobile phone from time to time. This could lock them out of their accounts or compromise their security and put them at risk of fraud if the lost asset is accessed by an unknown user.
Synced Devices
In the interconnected, modern world, many people receive their text messages on multiple devices, for example, their watch, laptop, etc. This makes it easier for malicious actors to intercept numbers used for SMS verification.
Picking Your SMS 2FA Verification Service
When choosing your SMS service provider, whether it be for 2FA, marketing or transactional purposes, you should consider the following criteria to assure the best results for both your business and your customers:
- Reliability: Ensuring a high-quality network infrastructure from an SMS service provider mitigates the risk of lost or undelivered SMS OTP text messages.
- Expertise: Maturity in the telecommunications field helps to ensure an established and reliable service experience for your business SMS. Aim to associate with a provider that’s well-established and has a good track record of client satisfaction.
- Security: Threat actor tactics are becoming more advanced. An SMS gateway provider will offer high-quality, secure network routing for your messages.
Swift SMS Gateway: Your Silver Bullet
At Swift SMS Gateway, we understand identifying the right provider is important for your business. That’s why we offer a free demo of our API platform, so you can try our services for yourself.
Our SMS gateway services are secure, cost-efficient and dependable. With some of the most competitive prices in the United States and Canada, we’ll also provide a strong support system to help you whenever you may need it.
For a service offering you can count on, get in touch with Swift SMS Gateway today!
