With the inculcation of online transactions and digitalization, the business world has come far from where it had originally started. Gone are the days when transactions were limited to physical mediums and virtual authentication and verification were some fancy terms with no evidence. In today’s global village, everything is digitalized and fairly independent from any timely dependencies. However, with such a great revolution over the period of time, any organization that prefers to utilize digitalization within their business framework must cater the security concerns with due priority.
For any institution, OTP Services stand as the one stop solution for all security concerns related to digitalization. Diving into the same, OTP stands for one time passwords and thus the term gauged as OTP services. Under such prophecy, this service is the tool for ensuring round tipped securities while performing transactions, signing up/signing in events and crucial digital activities performed by individuals. Owing to ease of mobile technology and availability of cell phones for the entire audience group, this service stands as the only way to ensure security and authentication concerns.
Diving into OTP services
The human activities are no longer limited to office clocks and standard timings. Rather, these activities now are performed round the clock and all 365 days in a year. The OTP services ensure that each of these activities shall justify security concerns and allure its users with unblemished satisfaction.
While focusing on the concept, the institutions which employ these services within their business architecture are facilitated to send OTPs in the form of text message to the targeted audiences whenever the required. Generally, these messages are automatic in nature and event-driven. Speaking in layman terms, the intended recipients receive messages containing OTPs based on the trail of events performed by them.
For example, An OTP message can be sent to the customer when he/ she tries to sign up on the organization’s website or trying to make a purchase from any e-commerce website.
Enhancing security level with two-factor authentication
Another facet of OTP services that have been widely accepted in the business industry at the colossal pace is Two Factor Authentication (abbreviated as 2-FA). As indicated by the name, this is the process where the user’s identity is double checked to ensure that only authenticated person is allowed to avail rightful privileges and no digital forgery takes place. Also known as multi-factor authentication, 2-FA is often seen used by business units which intend to provide their audiences online services.
Taking the essence, 2-FA involves the process of entering two passwords. Thus, if the user needs to access some authenticated privileges, he/she must enter two passwords and each of them shall be matched as per the security norms. Generally, the first password is user-defined. This password is the user’s primary password and is often in his control. However, the second password which comes as the next step in this bi-stepped verification is an authentication code which the user gets through SMS on the registered mobile number. Needless to say, this code is entirely event driven and is sent by the business application based on the recent activity of the user.
In order to maintain the integrity of security norms and safety, this code is either alpha-numeric or length specific numeric string which shall be entered by the user in the given time frame. Only once the user enters both passwords and both steps are passed successfully, the customer/client is entitled to access specified privileges of the business.
The security increases manifolds with the unique two-factor authentication code which is procured every time. Thus, even for the same user, no two-level authentications codes will ever be the same in the given time frame. This feature of multi-level authentication makes the digital presence and individual activities safe and secure, which deems to be the need of the hour