You lightly place your thumb at the bottom of your phone screen and, lo and behold, it’s unlocked instantly. So why can’t we do the same at the bank or when logging in to Twitter or YouTube? Well, soon we’ll be able to do it all. The passwordless future is inevitable and it’s almost here.
At NordPass, we’re thrilled to be creating a passwordless future. But what is passwordless authentication? How does it work? Let’s answer these questions.
Why should we consider going passwordless?
Year after year, we see either “123456” or “password” top our Most Common Passwords List. Millions of people reuse absurdly simple passwords across multiple platforms, even though they are very easy to crack by using a dictionary or brute force attacks. It makes passwords (and the people using them) one of the weakest links security-wise in any company or service.
Weak passwords are just part of the problem. The way we treat passwords is an issue as well. One of the worst password sins that all of us can attest to is reusing passwords. Having a single password to secure multiple accounts is a huge security risk, to put it mildly. In such instances, a single compromised account indicates that all of user’s accounts are essentially compromised as well.
The solution lies in biometric authentication and passkeys, which combined become one of the safest and smoothest passwordless authentication options available.
Passkeys: The key to passwordless authentication
In an age where technology usage continues to rise, the need for secure and efficient authentication methods becomes all the more pressing. Passwords, which have long reigned supreme as a solution for securing online accounts, have over time proven to be unreliable and susceptible to hacking. In turn, many organizations and companies have been looking for new, more efficient, and robust ways to authenticate users.
One organization at the forefront of the effort to go passwordless is the FIDO Alliance. The alliance works with various companies, including NordPass, to develop and promote open standards for passwordless authentication.
According to the FIDO Alliance, the technology set to replace passwords is passkeys. Passkeys are digital credentials that are generated by the user’s device. Usually used in combination with biometric data, such as a fingerprint or facial recognition, to offer an extra layer of security, passkeys provide access to websites and other online services.
What passkeys bring to the table
One of the major advantages of passkeys is that the private key, which is used to generate the passkey, never leaves the user’s device. This makes it almost impossible for attackers to gain access to the key through phishing or other forms of cyberattack. Furthermore, passkeys are almost impossible to hack, making them more secure overall.
Unlike traditional passwords, passkeys are invisible to the user and are never revealed or entered manually.
Going passwordless will also improve user experience. A fingerprint scanner, for example, is a fast and reliable authentication method. It would also mean that there would be no more password reset procedures — IT departments throughout the world will be very grateful. Also, when it comes to biometric authentication, you don’t need to remember anything. You won’t have any Post-its on the computer screen or notes in your planner. You can’t lose, steal, or forget your fingerprint.
Room for improvement for current passkey-based authentication
Right now, passwordless authentication is gaining major traction among such tech giants as Microsoft, Apple, and Google. All of these companies have been introducing passwordless authentication solutions, and in most instances the solutions include the use of passkeys.
However, current passkey-based solutions have a long way to go. At the moment, these solutions limit users to a single ecosystem, which makes it difficult to share them between, say, an Android user and an iOS user. In addition, the current solutions do not offer any kind of sync with password managers.
But this is where NordPass comes into play. We are currently working on integrating passkeys into your favorite password manager.
Introducing passwordless authentication to NordPass
At NordPass, we’re excited to be at the forefront of the passwordless revolution. And by early 2023, NordPass is set to introduce passwordless authentication both for individuals and businesses.
Passwordless access to NordPass
We are currently working on enabling a passwordless sign-in to NordPass. It will be a faster and simpler process than the one now, since it will require a single biometric confirmation. In simple language, this means that you will be able to access your Nord Account and NordPass with a single tap of a finger. You read it right. No more manually entering your Nord Account and Master Password each time you need to log in. Passwordless access to NordPass is set to significantly improve user experience and overall security.
NordPass passkey storage
All NordPass users will have the ability to save passkeys for any website or app in the encrypted vault and use them to access those online services later. With NordPass, you’ll be able to use, share, and sync passkeys between multiple devices and platforms, whereas many passwordless authentication solutions tend to lack such functionalities. This will make NordPass a single place for all of your digital valuables, including passwords, passkeys, credit cards, and other sensitive information.
Passwordless multi-factor authentication (MFA) for businesses
Password-based authentication is still the industry standard. However, due to the inherent vulnerabilities that come with password-based authentication, most businesses face a variety of cybersecurity risks. To significantly reduce the risk of suffering a phishing or an account takeover attack, businesses need to rethink their security approach with regard to access to endpoint devices such as laptops, desktops, workstations, and mobile devices as well as applications that leverage regular passwords or even single sign-on solutions.
With the introduction of passwordless MFA, we’re looking to help businesses improve their overall security stance by eliminating the need for passwords and introducing an authentication method based solely on biometrics.
Passkey integration for online service providers
The world is already moving rapidly towards a passwordless future. Unfortunately, not everyone can adapt smoothly and efficiently. Many small to medium-sized businesses (SMBs) lack the resources and know-how to implement passkey authentication for their users. However, at NordPass we’re ready to leverage our security expertise to make the transition from passwords to passkeys as smooth as possible. We believe that the frictionless user experience offered by passkeys across multiple platforms and devices, combined with superior security, will help your business increase conversion rates, user engagement, and user satisfaction.
You can expect big things as early as 2023. So stay tuned, and be prepared for the inevitable passwordless future – it’s just around the corner.
About Version 2 Digital
Version 2 Digital is one of the most dynamic IT companies in Asia. The company distributes a wide range of IT products across various areas including cyber security, cloud, data protection, end points, infrastructures, system monitoring, storage, networking, business productivity and communication products.
Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, different vertical industries, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.
These days, cybercrime is rampant. It’s no longer a matter of “if” you’re going to suffer an attack but “when” it will happen. All companies want to be ready for any crisis. And this is where a business continuity plan comes into play.
But what is a business continuity plan exactly? Why is it important? What should one include? Today, we’re exploring all these questions in-depth.
What is a business continuity plan?
A business continuity plan (BCP) is a document that sets guidelines for how an organization will continue its operations in the event of a disruption, whether it’s a fire, flood, other natural disaster or a cybersecurity incident. A BCP aims to help organizations resume operations without significant downtime.
Unfortunately, according to a 2020 Mercer survey, 51% of businesses across the globe don’t have a business continuity plan in place.
What’s the difference between business continuity and disaster recovery plans?
We often confuse the terms business continuity plan and disaster recovery plan. The two overlap and often work together, but the disaster recovery plan focuses on containing, examining, and restoring operations after a cyber incident. On the other hand, BCP is a broader concept that considers the whole organization. A business continuity plan helps organizations stay prepared for dealing with a potential crisis and usually encompasses a disaster recovery plan.
Importance of business continuity planning
The number of news headlines announcing data breaches has numbed us to the fact that cybercrime is very real and frequent and poses an existential risk to companies of all sizes and industries.
Consider that in 2021, approximately 37% of global organizations fell victim to a ransomware attack. Then consider that business interruption and restoration costs account for 50% of cyberattack-related losses. Finally, take into account that most cyberattacks are financially motivated and the global cost of cybercrime topped $6 trillion last year. The picture is quite clear — cybercrime is a lucrative venture for bad actors and potentially disastrous for those on the receiving end.
To thrive in these unpredictable times, organizations go beyond conventional security measures. Many companies develop a business continuity plan parallel to secure infrastructure and consider the plan a critical part of the security ecosystem. The Purpose of a business continuity plan is to significantly reduce the downtime in an emergency and, in turn, reduce the potential reputational damage and — of course — revenue losses.
Business continuity plan template
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Business Continuity Plan Example
[Company Name]
[Date]
I. Introduction
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Purpose of the Plan
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Scope of the Plan
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Budget
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Timeline
The initial stage of developing a business continuity plan starts with a statement of the plan’s purpose, which explains the main objective of the plan, such as ensuring the organization’s ability to continue its operations during and after a disruptive event.
The Scope of the Plan outlines the areas or functions that the plan will cover, including business processes, personnel, equipment, and technology.
The Budget specifies the estimated financial resources required to implement and maintain the BCP. It includes costs related to technology, personnel, equipment, training, and other necessary expenses.
The Timeline provides a detailed schedule for developing, implementing, testing, and updating the BCP.
II. Risk Assessment
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Identification of Risks
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Prioritization of Risks
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Mitigation Strategies
The Risk Assessment section of a Business Continuity Plan (BCP) is an essential part of the plan that identifies potential risks that could disrupt an organization’s critical functions.
The Identification of Risks involves identifying potential threats to the organization, such cybersecurity breaches, supply chain disruptions, power outages, and other potential risks. This step is critical to understand the risks and their potential impact on the organization.
Once the risks have been identified, the Prioritization of Risks follows, which helps determine which risks require the most attention and resources.
The final step in the Risk Assessment section is developing Mitigation Strategies to minimize the impact of identified risks. Mitigation strategies may include preventative measures, such as system redundancies, data backups, cybersecurity measures, as well as response and recovery measures, such as emergency protocols and employee training.
III. Emergency Response
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Emergency Response Team
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Communication Plan
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Emergency Procedures
This section of the plan focuses on immediate actions that should be taken to ensure the safety and well-being of employees and minimize the impact of the event on the organization’s operations.
The Emergency Response Team is responsible for managing the response to an emergency or disaster situation. This team should be composed of individuals who are trained in emergency response procedures and can act quickly and decisively during an emergency. The team should also include a designated leader who is responsible for coordinating the emergency response efforts.
The Communication Plan outlines how information will be disseminated during an emergency situation. It includes contact information for employees, stakeholders, and emergency response personnel, as well as protocols for communicating with these individuals.
The Emergency Procedures detail the steps that should be taken during an emergency or disaster situation. The emergency procedures should be developed based on the potential risks identified in the Risk Assessment section and should be tested regularly to ensure that they are effective.
IV. Business Impact Analysis
The Business Impact Analysis (BIA) section of a Business Continuity Plan (BCP) is a critical step in identifying the potential impact of a disruption to an organization’s critical operations.
The Business Impact Analysis is typically conducted by a team of individuals who understand the organization’s critical functions and can assess the potential impact of a disruption to those functions. The team may include representatives from various departments, including finance, operations, IT, and human resources.
V. Recovery and Restoration
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Procedures for recovery and restoration of critical processes
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Prioritization of recovery efforts
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Establishment of recovery time objectives
The Recovery and Restoration section of a Business Continuity Plan (BCP) outlines the procedures for recovering and restoring critical processes and functions following a disruption.
The Procedures for recovery and restoration of critical processes describe the steps required to restore critical processes and functions following a disruption. This may include steps such as relocating to alternate facilities, restoring data and systems, and re-establishing key business relationships.
The Prioritization section of the plan identifies the order in which critical processes will be restored, based on their importance to the organization’s operations and overall mission.
Recovery time objectives (RTOs) define the maximum amount of time that critical processes and functions can be unavailable following a disruption. Establishing RTOs ensures that recovery efforts are focused on restoring critical functions within a specific timeframe.
VI. Plan Activation
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Plan Activation Procedures
The Plan Activation section is critical in ensuring that an organization can quickly and effectively activate the plan and respond to a potential emergency.
The Plan Activation Procedures describe the steps required to activate the BCP in response to a disruption. The procedures should be clear and concise, with specific instructions for each step to ensure a prompt and effective response.
VII. Testing and Maintenance
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Testing Procedures
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Maintenance Procedures
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Review and Update Procedures
This section of the plan is critical to ensure that an organization can effectively respond to disruptions and quickly resume its essential functions.
Testing procedures may include scenarios such as natural disasters, cyber-attacks, and other potential risks. The testing procedures should include clear objectives, testing scenarios, roles and responsibilities, and evaluation criteria to assess the effectiveness of the plan.
The Maintenance Procedures detail the steps necessary to keep the BCP up-to-date and relevant.
The Review and Update Procedures describe how the BCP will be reviewed and updated regularly to ensure its continued effectiveness. This may involve conducting a review of the plan on a regular basis or after significant changes to the organization’s operations or threats.
What should a business continuity plan checklist include?
Organizations looking to develop a BCP have more than a few things to think through and consider. Variables such as the size of the organization, its IT infrastructure, personnel, and resources all play a significant role in developing a continuity plan. Remember, each crisis is different, and each organization will have a view on handling it according to all the variables in play. However, all business continuity plans will include a few elements in one way or another.
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Clearly defined areas of responsibility
A BCP should define specific roles and responsibilities for cases of emergency. Detail who is responsible for what tasks and clarify what course of action a person in a specific position should take. Clearly defined roles and responsibilities in an emergency event allow you to act quickly and decisively and minimize potential damage.
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Crisis communication plan
In an emergency, communication is vital. It is the determining factor when it comes to crisis handling. For communication to be effective, it is critical to establish clear communication pipelines. Furthermore, it is crucial to understand that alternative communication channels should not be overlooked and outlined in a business continuity plan.
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Recovery teams
A recovery team is a collective of different professionals who ensure that business operations are restored as soon as possible after the organization confronts a crisis.
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Alternative site of operations
Today, when we think of an incident in a business environment, we usually think of something related to cybersecurity. However, as discussed earlier, a BCP covers many possible disasters. In a natural disaster, determine potential alternate sites where the company could continue to operate.
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Backup power and data backups
Whether a cyber event or a real-life physical event, ensuring that you have access to power is crucial if you wish to continue operations. In a BCP, you can often come across lists of alternative power sources such as generators, where such tools are located, and who should oversee them. The same applies to data. Regularly scheduled data backups can significantly reduce potential losses incurred by a crisis event.
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Recovery guidelines
If a crisis is significant, a comprehensive business continuity plan usually includes detailed guidelines on how the recovery process will be carried out.
Business continuity planning steps
Here are some general guidelines that an organization looking to develop a BCP should consider:
Analysis
A business continuity plan should include an in-depth analysis of everything that could negatively affect the overall organizational infrastructure and operations. Assessing different levels of risk should also be a part of the analysis phase.
Design and development
Once you have a clear overview of potential risks your company could face, start developing a plan. Create a draft and reassess it to see if it takes into account even the smallest of details.
Implementation
Implement BCP within the organization by providing training sessions for the staff to get familiar with the plan. Getting everyone on the same page regarding crisis management is critical.
Testing
Rigorously test the plan. Play out a variety of scenarios in training sessions to learn the overall effectiveness of the continuity plan. By doing so, everyone on the team will be closely familiar with the business continuity plan’s guidelines.
Maintenance and updating
Because the threat landscape constantly changes and evolves, you should regularly reassess your BCP and take steps to update it. By making your continuity plan in tune with the times, you will be able to stay a step ahead of a crisis.
Level up your company’s security with NordPass Business
A comprehensive business continuity plan is vital for the entire organization’s security posture. However, in a perfect world, you wouldn’t have to use it. This is where NordPass Business can help.
Remember, weak, reused, or compromised passwords are often cited as one of the top contributing factors in data breaches. It’s not surprising, considering that an average user has around 100 passwords. Password fatigue is real and significantly affects how people treat their credentials. NordPass Business counters these issues.
With NordPass Business, your team will have a single secure place to store all work-related passwords, credit cards, and other sensitive information. Accessing all the data stored in NordPass is quick and easy, which allows your employees not to be distracted by the task of finding the correct passwords for the correct account.
In cyber incidents, NordPass Business ensures that company credentials remain secure at all times. Everything stored in the NordPass vault is secured with advanced encryption algorithms, which would take hundreds of years to brute force.
If you are interested in learning more about NordPass Business and how it can fortify corporate security, do not hesitate to book a demo with our representative.
About Version 2 Digital
Version 2 Digital is one of the most dynamic IT companies in Asia. The company distributes a wide range of IT products across various areas including cyber security, cloud, data protection, end points, infrastructures, system monitoring, storage, networking, business productivity and communication products.
Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, different vertical industries, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.
About NordPass
NordPass is developed by Nord Security, a company leading the global market of cybersecurity products.
The web has become a chaotic space where safety and trust have been compromised by cybercrime and data protection issues. Therefore, our team has a global mission to shape a more trusted and peaceful online future for people everywhere.
