PING IDENTITY HOLDING CORP. New research suggests a passwordless future, but adoption is still in its infancy
DENVER, June 14, 2022 /PRNewswire/ -- Ping Identity (NYSE: PING), the intelligent identity solution for the enterprise, and Yubico, the leading provider of hardware authentication security keys, surveyed IT leaders across the globe to determine their appetite for passwordless solutions. Overwhelmingly, the desire was clear to adopt more secure and convenient methods of passwordless authentication. They cited gains in security, productivity, and customer experience as key drivers.
"Passwords are not only frustrating but easily exploited via remote bad actors," said Andre Durand, CEO and founder of Ping Identity. "A passwordless future not only removes a usability headache for end-users, but makes identity and account take over and fraud far more difficult for remote actors. It's reassuring to see IT leaders across the globe aligned on a future where passwords are replaced by simple, easy, and more secure authentication."
Read the full Ping Identity Survey: Our Passwordless Future: a New Era of Security
- 94% of IT leaders have serious concerns about user-generated passwords.
- 91% are very or somewhat worried about passwords at their organization being stolen.
- 50% are concerned that passwords are too weak for security purposes.
- 67% are concerned with the helpdesk costs associated with passwords.
- 33% of helpdesk tickets are related to passwords, and in the past year, IT leaders have seen a 30% increase in password-related incidents.
- Leaders estimate employees must enter passwords an average of 12 times a day.
- 97% of those who haven't adopted passwordless authentication believe they will face challenges in doing so.
- 91% agree that password security is a cultural issue for which business leaders – not users – must take responsibility.
- 33% of those who haven't adopted passwordless authentication say a lack of expertise is a barrier to adopting passwordless authentication.
- 100% recognize the benefits of passwordless authentication, including reduced security costs (52%), enhanced security (52%), and less support needed (48%).
- 96% say passwordless authentication would create an easier user experience (UX) for employees; 95% of those with a customer login portal say it would create an easier UX for customers.
- 93% report their organization is likely to adopt passwordless authentication.
- Among organizations that adopted or plan to use passwordless authentication, the top forms are biometrics (67%), PIN (48%) and physical security keys (38%).
"With the vast majority of all cyberattacks starting with stolen passwords or other weak login credentials, Yubico is working towards a phishing-resistant and passwordless future," said Stina Ehrensvard, CEO and co-founder of Yubico. "The need for adopting modern authentication is highlighted on a daily basis with examples like the White House's cybersecurity executive order and Russia's invasion of Ukraine. Surveys like this demonstrate the mindset of industry leaders and the important journey towards simple and strong passwordless authentication."
Ping Identity and Yubico surveyed 600 IT leaders and decision-makers from large organizations (10,000+ employees) across the U.S., Europe, and Australia to better understand their key security concerns, at a time when password-related incidents are rising and billions of passwords have been exposed from data breaches. The findings underscore the dire limitations and risks of passwords and the burden they place on users and the help desk.
At Ping Identity, we believe in making digital experiences both secure and seamless for all users, without compromise. That's digital freedom. We let enterprises combine our best-in-class identity solutions with third-party services they already use to remove passwords, prevent fraud, support Zero Trust, or anything in between. This can be accomplished through a simple drag-and-drop canvas. That's why more than half of the Fortune 100 choose Ping Identity to protect digital interactions from their users while making experiences frictionless. Learn more at www.pingidentity.com.
Yubico, the inventor of the YubiKey, makes secure login easy and available for everyone. Since the company was founded in 2007, it has been a leader in setting global standards for secure access to computers, mobile devices, servers, browsers, and internet accounts. Yubico is a creator and core contributor to the FIDO2, WebAuthn, and FIDO Universal 2nd Factor (U2F) open authentication standards, and is a pioneer in delivering modern, hardware-based authentication security at scale. YubiKeys are the gold standard for phishing-resistant multi-factor authentication (MFA), enabling a single device to work across hundreds of consumer and enterprise applications and services. Yubico's technology enables secure authentication, encryption, and code signing and is used and loved by many of the world's largest organizations and millions of customers in more than 160 countries. Aligned with its mission of making the internet more secure for everyone, Yubico donates YubiKeys to organizations helping at-risk individuals through the philanthropic initiative, Secure it Forward. Yubico is privately held, with presence around the globe and offices in Palo Alto, San Francisco, Seattle area, and Stockholm. For more information, please visit: www.yubico.com.
Ping Identity Media Relations
Megan Johnson
press@pingidentity.com
757.635.2807
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SOURCE Ping Identity Corp.
