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The IT industry quickly adapted this methodology and OTP became widely used in many organizations and companies. Different OTP standards were developed, which eventually led to OAuth, a standard to standardize types of OTP. This period also saw the emergence of 2FA (Two Factors Authentication) and MFA (Multi Factors Authentication)

There are many things that have changed during the pandemic. New habits are being adopted and people are beginning to embrace the changes. Businesses no longer work the way they used to. Many workplaces now prefer flexible workspaces with shared workstations to reduce office rent cost and encourage hybrid working.

Company’s information is increasingly considered as key corporate assets. Customers’ information, financial data, important documents and product blueprints are examples of important and sensitive data that must be guarded from unauthorized access to maintain information security

Technology has made remote working much more feasible and economical compared to on-site working. Although it is not popular until a decade ago, remote working has now become the new norm of how employees work, especially during the pandemic.

With the volume of money handled by the finance industry on any given day, it’s no wonder that it is a prime target for cybercriminals. Whilst security in finance is generally better than in other sectors, cybercriminals continue to evolve their methods with the intent to access