Making Decentralized MFA Operational and Scalable - Protecting Businesses and Consumers from Cybercrime

With the number and severity of data breaches increasing sharply in recent years, it has become painfully apparent that passwords are inherently insecure and cannot adequately meet eCommerce companies' future authentication needs. This paper begins by looking at the problems with authentication today, including drawbacks of existing two-factor authentication. Several factors of next-generation authentication systems are then presented. Next, iovation shares information on their LaunchKey Auth Platform, detailing its three primary components, the architecture and authentication process, and the platform's advantages and benefits. High-level diagrams of the LaunchKey Auth Platform and the authentication flow between a requesting application and a client are also included.