All About User Verification (OTP): Benefits and Features Explained

Did you know that 81% of all data breaches are the result of weak passwords? Cyber attacks are very common these days, and we hear about them almost every day. Because most of our information is now available online, we must take extreme precautions in order to protect our sensitive data. One Time Password (OTP) has emerged as an easy and wise choice for individuals and businesses wishing to strengthen their online security. 

What is OTP (One Time Password)?

A one-time password or code is one that is automatically generated and sent to a digital device to allow for a single login session or transaction. OTP, also known as a one-time PIN, one-time authorization code (OTAC), one-time-passcode, or dynamic password, reduces several risks associated with traditional static password-based authentication.

OTPs are numeric codes that are generated at random to authenticate login attempts and transactions. The difficult-to-guess codes add a strong layer of security to each authentication event.

OTP security codes have gained popularity as a way to validate a new account or confirm a legitimate transaction with a single login. OTPs are made up of numbers or a string of characters that are generated automatically and delivered to the user’s devices via SMS, voice, email, or push notifications.

What makes OTPs better than traditional passwords?

To protect sensitive data, enterprise systems require more than static passwords. Because passwords cannot effectively verify whether the user attempting to access data is authentic or a cyber threat, this can result in exposed data. Evidently, traditional passwords are insufficient to account for the human element, which is responsible for the majority of cyberattacks globally due to weak or stolen passwords.

By sending One-Time Passcodes (OTPs) to a user’s phone number, you can ensure login verification. You can improve security by confirming deliverability to the correct user. Furthermore, businesses that require highly secure solutions use a combination of OTPs and passwords to reduce the risk of fraud.

Benefits of user authentication:

Easy to integrate and scale:

Organizations can easily incorporate OTPs into their apps and products by using the verification APIs. These verification API’s benefit business by:

• Safeguarding against internal and external cybersecurity threats
• Build customer trust
• Allow business to focus on higher-level goals

Protect Sensitive Data

Businesses that use OTPs for user authentication make it much more difficult for someone to steal personal information from a customer’s or employee’s account. Consider what happens when an unauthorized person tries to access another person’s account. The proper user is given a code that they did not request. That appears strange.

While the organization can only guess whether or not the login was legitimate, the user recognises something is amiss and takes action to further secure their account by updating their password.

Nearly impossible to guess:

OTPs are pretty effective at minimizing the risks associated with weak password security for such a simple concept (four to eight random numbers).

Let’s take a mathematical look at this. If you generate a random six-digit code, an identity thief must correctly guess each number within a short time frame. That’s ten possibilities (from 0 to 9) multiplied by six (10x10x10x10x10x10).

That is, an identity thief has a one in a million chance to guess OTP, or a 0.000001% chance. That’s just for a regular six-digit OTP. If they contain eight digits, the would-be identity thief has a better chance of winning the lottery.

In conclusion, There are several methods for protecting the online environment of application login. The approach of sending 2FA OTPs via mobile SMS is a quick, simple, and one-step verification. It is always wise to provide software/applications with a secure and protective online environment.

 It is worthwhile to invest in the integration of a two-factor authentication API in order to send SMS OTP. Telkosh is the ideal omnichannel API platform that provides users with the option of  user authentication . It provides the API with the fallback feature enabled. It is the best SMS OTP platform for delivering OTP or transactional alerts.