Knowledge-based authentication (KBA) is a security measure that is used to verify the identity of an individual before granting access to sensitive information, financial transactions or password-protected areas on a website. It is a technique that requires users to answer specific questions to which only they would know the answer.
Static KBA vs. Dynamic KBA
There are two types of knowledge-based authentication methods; Static KBA and Dynamic KBA. Static KBA is based on a set of pre-agreed, shared secrets such as answers to security questions that the user provided while registering. Dynamic KBA however, uses a larger pool of personal data and generates unpredictable questions to enhance the security of the authentication process.
How KBA Works
Basically, before allowing access to sensitive information or carrying out financial transactions that are protected by KBA, a user provides basic information such as name, address, or phone number. This information is then compared with public databases that store such information. If the inputted data matches with the ones in the databases, the user is granted access.
Knowledge-based authentication is becoming a common solution across the internet for numerous network configurations. This is because it helps in identifying authorized users by allowing them to provide answers to predetermined security questions.
Why is KBA important?
Knowledge-based authentication plays an increasingly important role in online security, particularly for financial institutions and other companies dealing with sensitive information. It helps reduce the risk of identity theft and fraud by making it difficult for an attacker to access an account or make transactions using stolen data.
FAQs
What kind of questions can be asked in KBA?
The questions are generally focused on information that only the user could or should know – such as previous addresses, phone numbers or details of previous transactions.
Is KBA a reliable security measure?
While KBA is an effective security measure, it is not foolproof and can sometimes be compromised by attackers with access to personal data of the user. This has led to the development of more advanced authentication methods like biometric authentication and multi-factor authentication (MFA).
Conclusion
Knowledge-based authentication (KBA) is an essential security method for financial institutions and companies that deal with sensitive information. It provides an additional layer of protection against fraudulent activities and unauthorized access. It is important to use additional authentication methods like multi-factor authentication (MFA) and security tokens to enhance the security of your accounts and data.
