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Financial Sector Struggles with Phishing-Resistant MFA Adoption

A new report reveals that just 28% of financial organizations have implemented phishing-resistant MFA, highlighting significant security vulnerabilities.

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THE NBW BRIEF

  • Only 28% of the financial workforce utilizes phishing-resistant multi-factor authentication (MFA).
  • MFA adoption is significantly higher for SaaS applications at 74% compared to just 50% for legacy systems.
  • Key barriers to broader MFA implementation include technical complexity and budget constraints.

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