Is the age of the password over?
Published: 23 Feb 2005 16:10 GMT
The biggest factor pushing companies to pay for something better than passwords are the concerns around identity theft and phishing. If something more than a password was needed to get access to financial records, it would be trickier for crooks to profit from such schemes.
"We want to add significantly more protection for our users and are looking at stronger authentication for passwords," said Adam Joffe, chief technology officer for Sony Online Entertainment, at an RSA Conference 2005 panel discussion.
Last week at the show, RSA Security announced plans for a hosted SecurID service where companies can add a layer of extra security for consumers. E*Trade Financial is among those that is trying out the RSA technology -- passing out a small number of the devices to customers for free. The company plans to decide later this quarter whether to expand beyond a few hundred early testers.
RSA said there are about a million consumers using its authentication technology, through a variety of pilot programs. Other companies that are eyeing the technology include financial institution Credit Suisse, Yahoo and Sony Online Entertainment.
Joffe said that Sony is "seriously considering" offering the RSA token to some of its customers. While game characters and points may not have the monetary value of a bank account, such identities are just as important to protect from online fraud.
"I wouldn't say [fraud is] a huge issue, but it's an issue," he said.
RSA's hope is that many number of companies will sign up for the program and that consumers would need only one token to manage a variety of accounts. Some businesses will give out the tokens free, while others may make customers foot part or all of the bill, the security provider believes.
Although the devices have the potential to help cut fraud, RSA Vice-president Christopher Young said the company is selling consumers as much on piece of mind as on cost savings. He likens it to the alarm that guards his house.
"I haven't had anyone break into my home before," said Young, who until about two months ago was head of safety and security premium services at America Online. "It makes my wife feel more comfortable when I am travelling, and I travel a lot."
Tony Gentile, a San Jose, California-based Web marketing consultant who runs a site called Buzzhit.com, said he would like to see a second method of authentication for many online activities, including banking, stock trading, Web-based health care and electronic voting.
But, he warns, any system is fraught with challenges. And he's not sure he or other consumers are ready to pay for it.
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