Businesses Spending More on Cybersecurity, Experts Move ‘Beyond Passwords’

Businesses Spending More on Cybersecurity, Experts Move 'Beyond Passwords'Businesses are investing more in cybersecurity and are exploring password alternatives, according to a new survey commissioned by authentication solutions provider SecureAuth.

Carried out by Wakefield Research, the survey polled 308 US-based cybersecurity experts near the end of November. Fifty-nine percent of respondents reported that their employer had suffered a digital security breach in the last year, and 95 percent expect that their companies will up their spending on cybersecurity over the coming year.

Looking to authentication, 66 percent of respondents said they were using “authentication methods beyond passwords,” and 91 percent said they expect the password to die within the next ten years. As for what’s going to replace it: a whopping 97 percent said they consider new authentication methods like fingerprint scanning to be reliable.

These are encouraging trends. Many have called for the end of the password, but with biometric authentication now becoming standard on mobile devices and making its way onto other prominent consumer products, things seem to be shifting in the right direction, with security experts helping to lead the charge.